Michael Klein to leave Citi

Source: Exec Digital USA

Date :7/21/2008 4:48:29 AM

Citigroup Inc announced today, July 21 that Michael Klein, chairman of Citi’s Institutional Clients Group (ICG) has decided to leave.

Klein (pictured), 44, has been chairman of ICG and vice chairman of the financial services company since March 2008.

Prior to this role, Klein was chairman and co-chief executive officer of Citi Markets and Banking.

He was previously chief executive officer of Global Banking, a position he held from the group's inception in February 2004.

Vikram Pandit, chief executive officer, said that during his 23-year career, Klein has made “invaluable contributions” to Citi and has been “has been instrumental in the growth and success” of the company.

Klein has also held the positions of CEO of CMB, Europe, and co-head of Global Investment Banking for Salomon Smith Barney.

He joined the mergers & acquisitions group of Salomon Brothers after graduating from the Wharton School of Business.