Citi’s Krawcheck leaving post, replaced by Corbat

Mike Corbat, a 25-year veteran of Citigroup’s institutional business, will replace Krawcheck as chief executive of the unit. Most recently, Corbat served as global head of the corporate and commercial bank.

Additionally, Citigroup named Edward “Ned” Kelly as head of global banking for the institutional clients group. Kelly most recently served as president and CEO of Citi Alternative Investments. Before joining the division in February, he was a managing director at private equity firm Carlyle Group.

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