BusinessCompany NewsCitigroup searching for CFO with CEO potential

Citigroup searching for CFO with CEO potential

World's largest financial services company looking to groom its eventual finance chief for the CEO's role

Citigroup
CEO Charles Prince has ordered the hunt for a new chief financial officer to
focus on candidates who could assume the chief exec’s mantle in the future.  

The move comes after America’s largest bank announced current CFO
Sallie
Krawcheck
, one of Wall Street’s most powerful women, was returning to her
old job as head of wealth management. She replaces Todd Thomson, who is leaving
to pursue other interests.

Other possible contenders for the CEO’s throne included Krawcheck and Ajay
Banga, head of international consumer business. The co-presidents of the
corporate and investment bank, Michael Klein and Thomas Maheras, were also named
as potential successors.

The company believed that there was not a pressing need for a CEO replacement
as current incumbent Prince, 56, is expected to remain in the role for a number
of years.

Further reading:

Bank of America CFO not up for Citigroup
role
 

Citigroup CFO not looking to resign

Banks to pay out billions to Enron
shareholders

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