NEW YORK — Citigroup Inc. said Friday global banking chief Edward "Ned" Kelly will become chief financial officer. He succeeds Gary Crittenden, who will become chairman of Citi Holdings, the entity created for non-core assets.

Kelly, who was Citi's internal investment banker, rose fast at the troubled bank. Crittenden, meanwhile, is moving to the part of Citigroup where the firm is looking to shed non-core assets while focusing on its global investment banking and retail banking operations.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.