Citigroup appoints Crittenden as Citi Holdings Chairman

Citigroup today said Gary Crittenden will become the chairman of Citi Holdings, while global banking chief Edward Ned Kelly will assume the role of chief financial officer of the troubled financial services giant.

Crittenden, who was the CFO of Citigroup has been appointed for the newly created role of chairman of Citi Holdings, while Edward Ned Kelly, previously the head of global banking, would assume charge of CFO at Citigroup, the company said in a statement.

In this new operational role, Crittenden would work with Mike Corbat, the interim CEO of Citi Holdings, to optimise the value of the businesses in this unit. Citi Holdings represents a significant portion of the assets of Citigroup.

"Gary and Ned will build on our early accomplishments and help to meet our strategic objectives at Citicorp and Citi Holdings," said Citi CEO Vikram Pandit.

"As CFO, Gary successfully managed Citi's re-engineering efforts and reduced expenses during a challenging environment. He is a proven leader with a steady hand and a keen understanding of the complex assets within Citi Holdings. I'm confident Gary will guide and accelerate our efforts to realise the value of Citi Holdings for our shareholders," he added.