* Marin to quit as Citigroup's head in Brazil
* Citigroup taps Magalhães to replace Marin
* Magalhães was executive at American Express
SAO PAULO, June 22 U.S. lender Citigroup Inc.
tapped Hélio Magalhães on Friday to head its operations in
Brazil, where buoyant demand for consumer and corporate credit
and capital markets advisory services is helping prop up profit.
Magalhães will return to the New York-based bank after 12
years at American Express Co, where he served as head of
global networks services for the Americas and president of its
Brazilian unit, the company said in a statement.
He replaces Gustavo Marín, who was Citigroup's chief country
officer for Brazil since 2005. Magalhães will report to
Francisco Aristeguieta, currently, the bank's chief executive
officer for Latin America, the statement said.
"We count on Hélio's experience to expand even more our
presence in Brazil, strengthening our ties with clients and
fostering growth in the country," a statement quoted Manuel
Medina-Mora, CEO of Citigroup's Global Consumer Banking and
chairman for Mexico and Latin America, as saying.