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Citigroup’s New CEO Corbat to Review Management, Make Changes

Citigroup’s New CEO Corbat to Review Management, Make Changes
Michael Corbat, who was named today to become Citigroup Inc.’s chief executive officer, said he’ll spend the next several weeks scrutinizing the bank’s management structure and businesses before making changes. Corbat Source: Citigroup Inc.

Oct. 16 (Bloomberg) -- Michael Corbat, who was named today to become Citigroup Inc.’s chief executive officer, said he’ll spend the next several weeks scrutinizing the bank’s management structure and businesses before making changes.

“These assessments will result in some changes,” Corbat wrote today in a memo to employees of the New York-based firm. “I will make sure to communicate these changes with you as decisions are made so that you are informed and updated.”

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To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Donal Griffin at dgriffin10@bloomberg.net

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