Citigroup shuffles executives

July 9, 2009 6:39:19 AM PDT
Citigroup says its former chief financial officer and current chairman of Citi Holdings, Gary Crittenden, is leaving the company as part of a broader shuffling of management. Crittenden took over as chairman of Citi Holdings in March when the New York-based bank split some of its riskier assets from its more traditional banking business. Citi Holdings contains the riskier assets. His departure was disclosed Thursday.

Edward Kelly, who was serving as CFO since Crittenden switched positions, will become vice chairman of Citigroup. John Gerspach will take over as CFO.

Eugene McQuade is joining Citigroup to serve as CEO of the retail banking business.

Citigroup was among the hardest hit banks by the recession. It has received $45 billion in aid from the government.

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