Citi today, March 20, announced two senior management changes to support the company's business realignment.
Edward Kelly, previously the Head of Global Banking, will replace Gary Crittenden, the new chairman of Citi Holding, as CFO.
Crittenden will work with Mike Corbat, the interim Chief Executive of Citi Holdings, to sell or wind down some $850 billion in assets in the unit, including the Smith Barney brokerage, the Primerica insurance unit and $300.8 billion in troubled assets.
The unit is separate from Citicorp, whose $1.1 trillion in assets includes businesses that Citigroup wants to keep, such as retail and investment banking operations.
"Gary and Ned will build on our early accomplishments and help to meet our strategic objectives at Citicorp and Citi Holdings," said Citi CEO Vikram Pandit in a statement
The realignment of Citi into Citicorp and Citi Holdings was announced on January 16.
Although the New York-based bank treats Citicorp and Citi Holdings as separate operations, both are still included in Citigroup's overall results.
Edward Kelly, previously the Head of Global Banking, will replace Gary Crittenden, the new chairman of Citi Holding, as CFO.
Crittenden will work with Mike Corbat, the interim Chief Executive of Citi Holdings, to sell or wind down some $850 billion in assets in the unit, including the Smith Barney brokerage, the Primerica insurance unit and $300.8 billion in troubled assets.
The unit is separate from Citicorp, whose $1.1 trillion in assets includes businesses that Citigroup wants to keep, such as retail and investment banking operations.
"Gary and Ned will build on our early accomplishments and help to meet our strategic objectives at Citicorp and Citi Holdings," said Citi CEO Vikram Pandit in a statement
The realignment of Citi into Citicorp and Citi Holdings was announced on January 16.
Although the New York-based bank treats Citicorp and Citi Holdings as separate operations, both are still included in Citigroup's overall results.
