Citigroup Announces Global Banking Promotions

March 12, 2004 ( - Citigroup's Global Banking Group, a division of the conglomerate's Global Corporate and Investment Banking Group, has announced a slew of executive placements.

Alan MacDonald, Vice Chairman of Citibank and Head of Citigroup’s Global Relationship Bank (GRB), will become Chief Operating Officer of Global Banking. In the new role, MacDonald will oversee teams of industry heads, market managers and relationship managers assigned to the Global Corporate and Investment Banking’s customer base of multinational corporations and financial institutions based in North America, Europe and Japan, according to a news release.

Also named by Citigroup was Alberto Verme, a Managing Director and Head of the Investment Bank’s Global Power, Energy and Chemicals Group, to head up the firm’s Global Investment Bank and Michael Corbat, a Managing Director and Global Head of Emerging Markets within Citigroup’s Fixed Income division, will succeed MacDonald as Head of the GRB.

All three will report to Michael Klein, Chief Executive Officer of Global Banking.