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Citigroup hires Morgan Stanley's Stewart for US banking division

Citigroup has hired former retail chief at fallen banking powerhouse Wachovia to improve retail banking on its home turf

In its quest to improve retail banking on its home turf, Citigroup has hired Cecilia Stewart, the former retail chief at fallen banking powerhouse Wachovia.

Stewart joined Morgan Stanley in 2008 to lead the investment bank's foray into retail banking. Now, Manuel Medina-Mora, Citigroup's top consumer banking executive, is delegating some of his responsibility to Stewart.

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