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Citigroup names president, global consumer banking head

Citigroup Inc. CEO Michael Corbat has asked Jane Fraser to be the company's president, a role that has been open since earlier this year.

Fraser, who most recently was the company's CEO of Latin America, will also become CEO of global consumer banking for Citi, succeeding Stephen Bird.

Bird is pursuing an opportunity outside the company, according to a news release. He will be available over the next few weeks to ensure a smooth transition.

Ernesto Torres Cantu, who is currently CEO of Citibanamex, will succeed Fraser as Citi's CEO of Latin America.