Citigroup Turns to Robert Rubin

In the wake of Charles Prince's departure, the former Treasury Secretary is named chairman. His first order of business: finding a new CEO

Former Treasury Secretary Robert Rubin will attempt to steady the ship at Citigroup (C) while it seeks a replacement for Charles Prince III, who was ousted as CEO after the nation's largest bank disclosed that its losses in the credit markets may reach $17 billion—nearly three times more than the company estimated just weeks ago.

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