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July 10, 2009

Citi announces raft of senior appointments

by Richard Kilner

Story link: Citi announces raft of senior appointments

Citigroup’s chief executive officer, Vikram Pandit, has announced a number of senior management changes.

Former chief financial officer Edward Kelly has been made vice chairman and given additional responsibility for strategic and M&A activity.

Kelly will collaborate closely with Pandit to endeavour to achieve Citigroup’s long strategic and operational targets.

He will be succeeded as chief financial officer by John Gerspach, who was previously controller and chief accounting officer of the banking giant.

Citibank, N.A. will have a new CEO in Eugene M. McQuade who joins the firm to assume the position.

McQuade was formerly Merrill Lynch’s vice chairman and president of Merrill Lynch Banks (U.S.), and has also served as Freddie Mac’s chief operating officer and Bank of America Corporation’s president.

Bill Rhodes will continue as senior vice chairman of Citibank and Citigroup but will relinquish his post as chairman and CEO of Citibank, N.A.

Finally, Citi Holdings’ chairman Gary Crittenden has elected to leave the company and relocate to Utah in order to spend more time with his family and other professional concerns.

 

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