Michael Carpenter: Sandy Weill's Fair Haired Boy?

Has Sanford "Sandy" Weill, Citigroup's tireless CEO, settled on a successor? Citigroup on July 25 split up Michael Carpenter and Victor Menezes, who had been co-heads of investments and corporate business. Menezes, 51, was farmed out to run emerging markets. Carpenter, 53, will remain head of Citi's investment and corporate businesses, where second-quarter profits grew 24% from a year earlier and accounted for 30% of Citi's earnings.

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