As the chief executive officer of Citigroup Inc.’s mortgage unit takes on more responsibility, the company has named a new leader for its global mortgage operations.
Jane Fraser was named CEO of CitiMortgage Inc. in 2013. Since that time, she has taken on additional duties overseeing U.S. consumer and commercial banking.
With the added responsibility, new managers have been appointed to oversee the banking businesses while still reporting to Fraser.
On Tuesday,
Citi announced that CD Davies was appointed to head of the New York-based firm’s global mortgage business.
Davies will also report to Fraser, who will maintain her CitiMortgage CEO title.
Davies, who is a managing director for Citigroup, joined the firm in March 2014.
His prior employers include LendingTree, where he was CEO and vice chairman, and Wachovia Mortgage Corp. where he was president and CEO. He also previously headed Capital One’s mortgage business.
Davies
attended Clemson University’s College of Business and Behavioral Science.
“CD is a dynamic and experienced leader in the mortgage industry,” Fraser said in the news release. “Since joining Citi last year, he has provided our originations team with sharp focus on building a sustainable retail-purchase mortgage capability. He has aligned our sales and fulfillment teams and is executing a balanced business strategy across distribution channels.”
Citi reports a U.S. mortgage portfolio of $101 billion and a third-party U.S. servicing portfolio of $229 billion.
In addition, it owns another $46 billion in loans outside the country.
