Another reshuffle at Citi
(14 July 2009 – USA) Citigroup has announced more management changes in a bid to support the company’s changing global strategy, with the newly elected CFO again on the move.
Edward Kelly, who was elected CFO in just March this year, will now take on broader responsibilities for strategy and M&A and will become Vice Chairman of Citigroup, the bank announced.
Kelly will work closely with chief executive, Vikram Pandit in order to drive the execution of Citi's strategic and operational priorities.
The new CFO, Citi’s fifth in the past five years, will be John Gerspach, previously the Controller and Chief Accounting Officer of Citi.
In another change, current Senior Vice Chairman of Citigroup and Citibank and Chairman and CEO of Citibank, Bill Rhodes, has announced that he will reduce his level of operating responsibility in order to focus more of his time on Citi's international franchise.
In doing so, he will step down as Chairman and CEO of Citibank and continue on in his position of Senior Vice Chairman.
This move requires another change, with Eugene M. McQuade joining Citi as Chief Executive Officer for Citibank, the bank’s retail business.
McQuade most recently served as Vice Chairman of Merrill Lynch and President of Merrill Lynch Banks.
Kelly will work closely with chief executive, Vikram Pandit in order to drive the execution of Citi's strategic and operational priorities.
The new CFO, Citi’s fifth in the past five years, will be John Gerspach, previously the Controller and Chief Accounting Officer of Citi.
In another change, current Senior Vice Chairman of Citigroup and Citibank and Chairman and CEO of Citibank, Bill Rhodes, has announced that he will reduce his level of operating responsibility in order to focus more of his time on Citi's international franchise.
In doing so, he will step down as Chairman and CEO of Citibank and continue on in his position of Senior Vice Chairman.
This move requires another change, with Eugene M. McQuade joining Citi as Chief Executive Officer for Citibank, the bank’s retail business.
McQuade most recently served as Vice Chairman of Merrill Lynch and President of Merrill Lynch Banks.
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