Citi names CEO of Citi Holdings

by Richard Kilner

Story link: Citi names CEO of Citi Holdings

Citi has announced the appointment of Mike Corbat as the chief executive officer of Citi Holdings, which contains within it Citi’s brokerage and asset management, local consumer finance and a special asset pool.

Corbat has served as interim CEO since January when the firm announced it was realigning into Citicorp and Citi Holdings, and brings with him over a quarter of a century of experience with the firm.

Previously he served as CEO of the Global Wealth Management unit, and during his time with Citi has also led the Global Corporate Bank and Global Commercial Bank.

Continuing in his role as chief executive, Corbat will work closely with recently appointed chairman Gary Crittenden to choose the best strategic course for Citi Holdings to embark upon.

Crittenden has warmly welcomed Corbat’s appointment, praising him as an excellent partner and expressing his own delight at the new CEO.

Another senior appointment has been made at the bank, with Eric Aboaf assuming the post of treasurer of Citigroup.

Aboaf will be directly responsible to chief financial officer Ned Kelly and will be tasked with balance sheet management, collaborating closely with businesses in both Citicorp and Citi Holdings.