Barbara J. Desoer
Barbara J. Desoer | |
|---|---|
| Occupation | Banking executive |
| Years active | 1977–2019 |
| Known for | CEO of Citibank, N.A. (2014–2019); President of Bank of America Home Loans |
| Notable work | Led integration of Countrywide Financial into Bank of America; Managed $2 trillion servicing portfolio at Bank of America Home Loans |
Barbara J. Desoer held the role of CEO at Citibank, N.A. from April 1, 2014, until May 10, 2019, having previously been the Chief Operating Officer between October 2013 and April 2014. Before joining Citibank's leadership, she was president of Bank of America Home Loans, a prominent mortgage originator and servicer in the United States. In this capacity, she managed a servicing portfolio valued at $2 trillion, serving close to 14 million clients, which represented roughly one-fifth of the U.S. mortgage market. Additionally, she was in charge of Bank of America's home equity operations along with a top-tier insurance services division.
Desoer began her career at Bank of America in 1977 and advanced through various executive positions spanning commercial lending, consumer product lines, retail banking, marketing efforts, and technology functions. In 2008, she spearheaded the integration process for Countrywide Financial Corporation following its acquisition by Bank of America and subsequently introduced the Bank of America Home Loans brand in 2009.
Prior to her CEO tenure, she served as chief technology and operations officer where she directed worldwide technology infrastructure and operational activities. During this period, she reported directly to CEO Brian Moynihan.
Desoer has been acknowledged for her significant impact in the banking sector, ranking second on US Bankers list of "25 Most Powerful Women in Banking" (2008), featuring on Fortune's "50 Most Powerful Women in Business," and being recognized among Forbes' 100 most powerful women globally in 2009. She holds a Bachelor of Arts degree in mathematics from Mount Holyoke College (1974) and earned her MBA from University of California, Berkeley.
In February 2012, amid Bank of America's organizational restructuring, Desoer announced her retirement; her role was subsequently dissolved with its duties reassigned to David Darnell, who headed consumer banking.