NEW YORK -- Citicorp's decision to hire Christopher J. Steffen, the tough-minded former chief financial officer of Eastman Kodak & Co., as its expense czar was cheered by analysts on Thursday.

"It's one more step toward effecting the turnaround and making it credible," said Arthur Soter, an analyst at Morgan Stanley & Co. "Citicorp's managers ... haven't had a lot of experience in managing the process of ongoing productivity improvement."

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