Banks Author Tools View Bio More Articles by This Author RSS | Email Citigroup Names Corbat CEO of 'Bad Bank'

Citigroup has permanently named Mike Corbat as the CEO of Citi Holdings, its "bad bank" entity.

Citi Holdings is comprised of the battered company's brokerage and asset management arm, consumer finance and a special asset pool. Corbat had previously been the entity's interim CEO when it announced it was splitting the company in January.

Corbat will work closely with Citi Holdings chairman Gary Crittenden, to "thoughtfully evaluate and set the strategic course for these businesses, while tightly managing risks and losses and maximizing the value of these assets," the company said. Crittenden, formally the holding company's CFO, was named last month to his new role.

Read Full Article from TheStreet.com

- Posted: 2009-04-06 08:43:28

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