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Citigroup Names Reiner, Turley to Board of Directors

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July 8 (Bloomberg) -- Citigroup Inc., the third-biggest U.S. bank by assets, named former Ernst & Young LLP Chairman and Chief Executive Officer James S. Turley and private-equity executive Gary Reiner to the board of directors.

Turley and Reiner, an operating partner at General Atlantic LLC, will also join the board of banking subsidiary Citibank NA, the New York-based lender said today in a statement. Turley, 57, will join the board’s audit committee, according to the statement.

The appointments bring the number of directors to 13, the minimum suggested in the firm’s corporate-governance guidelines. Lawrence Ricciardi, who held executive roles at International Business Machines Corp and RJR Nabisco Inc., retired from Citigroup’s board in April after reaching the retirement age of 72, according to a March proxy filing. Alain Belda, the former chairman and CEO of Alcoa Inc., and Richard Parsons, Time Warner Inc.’s former chairman and CEO, retired in April 2012.

“Both of these new directors will bring considerable insight to the board as Citi continues to leverage its unmatched global strengths,” Chairman Michael O’Neill, 66, said in the statement.

Turley joined Ernst & Young in 1977 and led the firm from 2001 until his recent retirement, according to the statement.

Reiner, 58, became operating partner at General Atlantic in 2010 and was previously senior vice president and chief information officer of General Electric Co., according to the statement. He also serves on the board of Hewlett-Packard Co., the bank said.

To contact the reporter on this story: Donal Griffin in New York at dgriffin10@bloomberg.net

To contact the editors responsible for this story: Christine Harper at charper@bloomberg.net; David Scheer at dscheer@bloomberg.net

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