CitiMortgage names chief executive officer
The company announced that Beckmann was leaving to spend more time with his family.
Das returns to Citigroup from Morgan Stanley where he was managing director in the company's institutional securities group. Das worked at Citigroup from 1991 to 1999 in its global mortgage product group and in positions overseas.The move comes after Beckmann, who worked for Citigroup for more than two decades, left the company at the end of June. The mortgage operation also dismissed 51 employees June 17 after a larger layoff in March.
In January, Citigroup announced that Beckmann would lead its consolidated U.S. residential mortgage business after the company decided to combine its mortgage operations into one unit. Beckmann was named to head the residential mortgage business unit that issues packages and collects on home loans.
CitiMortgage employed 3,600 people as of March, about 1,000 fewer than in April 2007 when Citigroup announced it would reduce its Missouri workforce by 2 percent, or 134 jobs. In March, the company cut 159 workers loose in a further effort to trim costs.
With the additional 51 positions eliminated last month, CitiMortgage has cut its workforce by 6 percent just this year.
"It's obviously a very challenging time in terms of industry and there are many more companies that are doing the same thing we are," said Mark Rodgers, spokesman for Citigroup.
Asked if more cuts were on the way, Rodgers said the company is continually reviewing its operations. He said dismissed employees were being encouraged to look for other opportunities within Citigroup that may come open due to attrition.
