Citigroup Inc., which split itself in two this month, reshuffled senior managers on Tuesday and Chief Executive Vikram Pandit defended the company's financial soundness at an investor conference.

Michael Corbat, a 25-year Citi veteran who most recently headed the global wealth management division, was named to oversee the Citi Holdings half of the company, a group of largely troubled businesses that Citigroup separated from its core banking operations on Jan. 16, the same day it posted its fifth straight quarterly loss. In a memo to employees obtained by American Banker, Mr. Pandit said Mr. Corbat will retain oversight of wealth management.

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