A Contender Again

A Contender Again

People Corporate & Sovereign Strategy

Citigroup is again shaking up its wayward Latin American franchise. Manuel Medina-Mora, the bank's supremo for Latin America, has had a great first year in the job and promises more action to whip the bank's business into shape in 2005. Clients, bankers, investors, regulators and his bosses in New York all have high expectations that the slight and, at first impression, unassuming Mexican will make good on his promises. He is the third man in as many years to lead Citigroup in Latin America. Clients complain about churn at the top, poor service and the bank's decision to drop them when Latin American financial markets plunged in 2002. Problems in the region were part of a

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