Arrow-right Camera
News >  Business

Citigroup CEO picks two co-presidents

NEW YORK – Citigroup’s new CEO is continuing to put his imprint on the bank, naming co-presidents on Monday.

CEO Michael Corbat tapped Jamie Forese and Manuel Medina-Mora for the roles.

Corbat took over as CEO of the New York company in October after Vikram Pandit unexpectedly stepped down.

Forese will be responsible for all of Citi’s institutional businesses, and Medina-Mora will continue to oversee global consumer banking and Citi’s franchise in Mexico.

Forese had served as CEO of securities and banking for the institutional clients group.

Citigroup said the operations and technology functions that support the institutional and consumer businesses will report directly to Forese and Medina-Mora, respectively. The move was made to better align the operations and improve efficiency.

Corbat also named Jim Cowles as CEO of the company’s Europe, Middle East and Africa division – a position previously held by Corbat.

Apple app downloads top 40 billion mark

CUPERTINO, Calif. – Apple said people have downloaded more than 40 billion apps for the iPhone, iPad and the iPod Touch, nearly half of them in 2012.

Apple Inc. said Monday that December saw record downloads of more than 2 billion apps. There are 775,000 individual applications available in the app store. Apple said it has paid app developers more than $7 billion.

Apple launched its app store in 2008.

The 40 billion milestone does not include updates or repeat downloads.

McDonald’s testing new ‘Mighty Wings’

NEW YORK – First there were McNuggets. Then there were Chicken McBites. Now McDonald’s could be adding “Mighty Wings” to its chicken menu.

The world’s biggest hamburger chain is set to expand its test of chicken wings to Chicago this week, after a successful run in Atlanta last year. The wings are being sold in servings of three, five or 10 pieces with prices starting at $3, according to Lynne Collier, an analyst with Sterne Agee.

A spokeswoman for McDonald’s confirmed the test in Chicago would start this week at about 500 restaurants but said there weren’t any plans yet to bring the wings to other cities. She noted that no new sauces were being offered with the wings and that the creamy ranch sauce would be the default dipping sauce.