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."
Mr. McGuire and Mr. Verme commented: "Alberto is a world-class individual. His breadth of experience is truly unique. Our clients as well as our bankers will be the beneficiaries of his vast experience, global perspectives and respect as a trusted advisor."
About Mr. Cribiore:
Prior to forming Brera Capital Partners, Mr. Cribiore was Co-President and Partner at Clayton, Dubilier & Rice, Inc., which he joined in 1985. He had previously been a Senior Vice President at Warner Communications, where he was responsible for mergers, acquisitions and divestitures. Prior to Warner Communication, he was Vice President at IFI International, the international holding company controlled by the Agnelli family.
Mr. Cribiore is a cum laude graduate of Bocconi University in Milan, Italy, and holds degrees in business administration and economics. He serves on the Boards of GAB Robins and various other Brera controlled companies. He is a former Director of Merrill Lynch, where he served as Lead Director and as Non-Executive Chairman.
Mr. Cribiore is a member of the Board of Trustees of Reed College and serves as a Managing Director of the Metropolitan Opera Association and as Chairman of the New York City Chapter of the Bocconi University Alumni Association. He is also a Director of the Council for the United States and Italy, and a member of the Weill Cornell Medical College Board of Overseers.
About Citi's Institutional Clients Group:
Citi's Institutional Clients Group serves corporate clients, governments and institutional investors around the world, providing expertise and innovative solutions in banking, markets, transaction services and alternative investments. With a history dating back nearly 200 years, Citi today has a global network that includes offices in 104 countries, trading desks in more than 80 countries and transaction services infrastructure covering 140 countries. Citi aims to be trusted advisor to our clients, to execute flawlessly, to strategically commit capital and to always focus on innovation.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.