Barbara Desoer Joins Citigroup As COO For Citibank NA

Barbara Desoer, formerly head of Bank of America's mortgage division, has joined Citigroup as chief operating officer of its retail banking subsidiary.

Desoer, who was at one time being considered for CEO of Bank of America, was with the bank when it bought Countrywide Financial Corp. in 2008. She remained with Bank of America through the following five years as it dealt with fallout from faulty mortgages and foreclosures that have, to date, cost it more than $45 billion.

She left Bank of America in 2012, after the bank established a separate division to handle the bad loans, according to a Bloomberg News report.

Desoer, who starts in her new job on Oct. 15, will oversee the governance of Citibank NA, the bank's consumer unit.


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