Citigroup Shuffles Top Management

Published: 09-Jul-2009

Mr. Kelly named as Vice Chairman of Citigroup

Citi has announced several senior management changes to support the banks business. The bank has reported that Edward “Ned” Kelly, previously Chief Financial Officer, will take on broader responsibilities for strategy and M&A and will become Vice Chairman of Citigroup. Mr. Kelly will work closely with Vikram Pandit, CEO of Citigroup, in order to drive the execution of Citi's strategic and operational priorities.

John Gerspach, previously the Controller and Chief Accounting Officer of Citi, will assume the role of Chief Financial Officer. Eugene McQuade will join Citi as Chief Executive Officer for Citibank. He was most recently Vice Chairman of Merrill Lynch and President of Merrill Lynch Banks (US).

Bill Rhodes will continue as Senior Vice Chairman of Citigroup and Citibank and will step down as Chairman and CEO of Citibank, NA. However, Gary Crittenden, Chairman of Citi Holdings, is leaving from the bank’s responsibilities.

Mr. Pandit said: “Our relentless focus on executing against our strategic priorities at Citi continues as we remain focused on rationalizing Citi Holdings, and on Citicorp as our core operating business.”

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