Citigroup’s Orszag to Oversee Strategy Unit as Chiefs Picked

Citigroup Inc., the third-largest U.S. bank, named Peter Orszag chairman of its expanded financial strategy and solutions group while selecting Ajay Khorana and Elinor Hoover to co-lead the unit.

Orszag will take the role in addition to his duties as vice chairman of corporate and investment banking, according to a memo today to the New York-based lender’s employees. The unit, advising clients on strategy, financial decisions and risk-management, still will be known as FSG, which previously stood for financial strategy group, the memo shows.