The company has also announced that Win Bischoff will succeed chairman Robert Rubin, who will return to his previous duties as a member of the Citigroup board of directors and chairman of the executive committee of the board. Mr Pandit was most recently chairman and CEO of the Institutional Clients Group, which comprises Citi Markets & Banking and Citi Alternative Investments.
Mr Bischoff served as the chairman of Schroders before joining Citi in 2000. Most recently, he has chaired Citi’s growing businesses in Europe, the Middle East and Africa.
Mr Rubin said: Mr Vikram has earned a reputation as one of the most respected leaders in the financial services industry. During Vikram’s time at Citi, he has come to know this company and its people, and he has earned the respect of managers and directors alike for his incisive intellect and ability to balance risk and opportunity in making and executing tough decisions.
