Citigroup scrutiny puts trio in firing line
By Francesco Guerrera in New York
The position of Terri Dial, the head of Citigroup’s troubled US consumer bank, has been called into question after an external review of Citi’s executives raised concerns over her managerial skills, it emerged on Wednesday.
People close to the situation said the report by consultants Egon Zehnder, which was ordered by regulators earlier this year, was generally positive on Citi’s top management, led by the chief executive Vikram Pandit.
The months-long review – the product of interviews with several of Citi’s staff – is a victory for Mr Pandit, who has been under pressure from regulators, led by the Federal Deposit Insurance Corporation, to improve the performance of his team.
However, insiders said the report, which was given to the board and regulators this week, raised questions over at least three senior executives: Ms Dial, Lew Kaden, an influential powerbroker who runs the legal and human resources departments, and Don Callahan, a close ally of Mr Pandit’s who is chief administrative officer.
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