Citi Names Callahan Chief Administrative Officer
Internal memo also outlines management structural changes
December 18, 2007
In his first major appointment since becoming Citigroup CEO, Vikram Pandit tapped Don Callahan as the bank's new chief administrative officer, according to an internal memo obtained by IDD.
He will report to Pandit and join the firm's operating, management and business heads committees.
Callahan was most recently chief administrative officer of Citi's Institutional Clients Group and COO of Citi Alternative Investments.
"Don has been a close business partner of mine for many years and will help me drive our agenda for change at Citi, ensure that we administer our business efficiently and effectively, and communicate with our constituents in a coordinated way," Pandit writes in the memo, dated yesterday.
Callahan came to Citi earlier this year and was previously a managing director and head of client coverage strategy in Credit Suisse's investment banking division.
He worked with Pandit at Morgan Stanley, where he was employed from 1993 to 2006 and served as global head of marketing and global head of business management for institutional securities and investment banking. Callahan began his career at IBM.
The appointment also ushers in a different central management structure. According to the memo, Kevin Kessinger, head of operations and technology; Lisa Caputo, head of marketing and branding; and Leah Johnson, head of corporate affairs, will report to Callahan.
Furthermore, Lew Kaden, vice chairman, will take on additional responsibilities, writes Pandit. Kaden will begin overseeing the human resources, legal, strategy and M&A, audit and risk review, global government affairs, executive services and international franchise management and business practices groups. He will also supervise Citi's Japanese operations.
Kaden will continue as chairman of the Citi Foundation and the bank's business practices committee.
In other Citi-related personnel news, COO Robert Druskin is retiring at the end of the year. CFO Gary Crittenden will take over Druskin's structural and expense review responsibilities.
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