Citigroup (C) hired Barbara Desoer, former head of the mortgage business at Bank of America (BAC), as the new chief operating officer. Per FOX Business:
Desoer had a 35-year career at Bank of America, leading the bank's combined home loan business after the acquisition of Countrywide Financial in 2008. She retired in February 2012.
Prior to Brian Moynihan's rise to the top spot at the Charlotte, North Carolina-based bank in January 2010, Desoer was considered a candidate for chief executive. She was effectively demoted in October 2011 when the mortgage business was folded into Bank of America's consumer business under David Darnell.
