Citigroup Inc. (NYSE: C)
September 04, 2008
Citi Names Alberto Cribiore as Vice Chairman of Institutional Clients Group
Leading International Finance Executive to Focus on Investment Banking
New York – Citi today announced that Alberto Cribiore will join its Institutional Clients Group as a Vice Chairman, effective September 8, 2008. Mr. Cribiore will report to John Havens, Chief Executive Officer of the Institutional Clients Group. Working closely with Investment Banking co-heads Raymond J. McGuire and Alberto Verme, Mr. Cribiore will play a key leadership role in leveraging Citi's global network, creating access and building relationships at the highest levels of management among existing and potential clients.
Mr. Cribiore was most recently a member of the Board of Directors and the Lead Director of Merrill Lynch, where he served as Merrill's Interim Non-Executive Chairman and Chairman of the Search Committee prior to the appointment of John Thain. He was also the Managing Partner of Brera Capital, a global private equity firm founded in 1997. Mr. Cribiore has resigned from the Merrill Lynch Board of Directors, and he will act as Brera's Non-Executive Chairman as that firm continues, as planned, its orderly liquidation.
Mr. Havens commented: "Alberto is a distinguished and widely-respected leader in global financial services, and we are delighted that he has decided to join Citi. His extensive management experience comes with a broad and deep understanding of the global financial marketplace, including investment banking and asset management in the US, Europe, Latin America and Asia. Alberto's track record of delivering results and driving execution will be of enormous value to our franchise as we continue to strengthen our presence worldwide and capitalize on growth opportunities."
Mr. Cribiore commented: "I am proud to be joining Citi and I look forward to working closely with the investment banking division. I am especially delighted that I will be returning to a client impact role and working closely with John Havens and his colleagues. With this move, I will be resigning from my position on Merrill Lynch's Board of Directors. Given the positive strides that have been made under John Thain's leadership these past nine months, I feel strongly that my departure comes at an appropriate time. I look forward to being actively involved in the execution and delivery of Citi's vision for the future."