One chairman-CEO or two separate roles, Citigroup has to decide soon

JPMorgan Chase & Co and Bank of America Corp have placed the jobs of chairman and chief executive in the hands of one person, and now No. 3 Citigroup Inc must decide whether to follow suit.

The matter will be resolved in the next few months as the current chairman, Mike O'Neill, reaches 72, the company's retirement age for directors. Citigroup CEO Mike Corbat will soon know if he will be taking on the additional duties of chairman or working for a new boss.

"The change in the chairman is the biggest corporate governance decision at Citigroup in six years," said analyst