Banking

Former Wachovia executive to lead Citigroup mortgage business

Citigroup on Tuesday said it named a former Wachovia and LendingTree executive head of the New York-based bank’s global mortgage business.

C.D. Davies joined Citi in March 2014 as head of U.S. mortgage originations. He will continue to report to Jane Fraser, CEO of CitiMortgage and U.S. Consumer and Commercial Banking.

In Charlotte, Davies has previously served as president of Wachovia’s mortgage operations and CEO of LendingTree. He has also led Capital One’s mortgage business and insurance concern QBE First.

As of September 30, Citi had a North America consumer mortgage lending portfolio of $101 billion and $46 billion in loans outside the U.S.

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