Citigroup has named Robert Lipp head of its consumer arm, joining Chairman and Chief Executive Sanford Weill and former U.S. Treasury Secretary Robert Rubin in its office of the chairman. Lipp, 62, takes the place of Citigroup co-chairman John Reed who quit in April amid speculation that his agreement with Weill to run the company jointly was a tense one.
Weill, 67, Citigroup’s sole CEO, has said he plans to name a successor within two years. Lipp’s new position will include coordinating cross-selling efforts at Citigroup as well as overseeing technology infrastructure. He will also keep his job as chairman of Citigroup’s global consumer group.
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