Citigroup names new head of global prime finance: memo

HONG KONG (Reuters) - Citigroup, the largest U.S. bank struggling to recover from the credit crunch, tapped Nick Roe to be Head of Global Prime Finance, according to a company memo obtained by Reuters.

Roe, who started with the bank in 2005, will remain based in London and report to Steve Bowman, Citi's head of hedge fund services.

The memo said Ali Hackett and Tom Tesauro, the previous leaders of the Global Prime Finance group, will leave Citi.

The Wall Street Journal reported on Friday that Citi plans to hire an outsider to take over its flagging U.S. consumer business.

Terri Dial, who runs Lloyds TSB Group Plc's (LLOY.L: Quote, Profile, Research) U.K. retail banking business, will replace Steven Freiberg at the helm of U.S. consumer operations, the newspaper said, citing people familiar with the matter.

(Reporting by Saeed Azhar and Michael Flaherty, Editing by Ken Wills)