Former hedge-fund manager Vikram Pandit was named CEO of Citigroup. Pandit replaces Bischoff, who has filled the top post on an interim basis since former CEO Charles Prince was forced out.
Citigroup also named Win Bischoff chairman, replacing Robert Rubin, who will return to his previous duties as a director and chairman of the executive committee of the board.
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Robert Druskin, chief operating officer of Citigroup, plans to retire at the end of 2007.
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