Citigroup Inc.'s newly minted chief executive, Vikram Pandit, named a long-time colleague Monday to a key strategic role at the $2.4 trillion-asset company.
Mr. Pandit tapped Donald Callahan to be the New York company's chief administrative officer, responsible for overseeing operations and technology, marketing and branding, and corporate affairs.
In an internal memo, Mr. Pandit wrote that Mr. Callahan would succeed David Bushness in the role. Citi had said previously that Mr. Bushness would retire Dec. 31. Operations and technology had reported to Robert Druskin, who the company said Friday would retire this month as the chief operating officer. Ajay Banga, the company's co-head of global consumer banking, had been responsible for marketing and branding.
The memo said that Mr. Callahan would report to Mr. Pandit and join the company's business heads, operating, and management committees.
Mr. Callahan, referred to by Mr. Pandit in the memo as a "close business partner of mine for many years," was the chief administrative officer for the institutional clients group and the chief operating officer of Citi's alternative investments business. Mr. Pandit also came from the investment banking side of the business. The executives also worked together at Morgan Stanley.
As part of the new reporting structure, Lew Kaden, a Citi vice chairman who had been the chief administrative officer until then-CEO Charles O. Prince assigned him the task of evaluating strategic initiatives, will take on more duties. In addition to corporate governance, strategic opportunities, and senior executive recruitment, he will oversee human resources, legal, strategy and M&A, and Citi's Japan business, the memo said.
