NEW YORK (Reuters) - Citigroup Inc on Monday named Michael Corbat permanent chief executive of Citi Holdings, a unit housing the Smith Barney brokerage and a variety of businesses and riskier assets that may be shed.
Corbat had been interim chief of Citi Holdings since January 16, when CITIGROUP (C.NY)split its operations in two, creating Citicorp and Citi Holdings. He has worked for more than 25 years at Citigroup, most recently as chief executive of global wealth management.
Gary Crittenden, who had been Citigroup's chief financial officer, was named chairman of Citi Holdings last month.
Citi Holdings has about $850 billion of assets, including Smith Barney, which is merging into a joint venture with Morgan Stanley's
It also houses $300.8 billion of troubled assets. In November the U.S. government agreed to share in losses from those assets. Citigroup has received $45 billion of taxpayer money under the government's Troubled Asset Relief Program.
Citicorp has about $1.1 trillion of assets and includes businesses the bank wants to keep, including retail and investment banking, transaction services and Citi Private Bank.
Separately, Citigroup named Eric Aboaf treasurer. He joined the bank in 2003 and was most recently chief financial officer of Citigroup's institutional clients group, after holding the same position in consumer operations. He reports to Edward "Ned" Kelly, who succeeded Crittenden as Citigroup CFO.
Citigroup executives were not immediately available for further comment, a spokesman said.
Shares of Citigroup closed Friday at $2.85.
(Reporting by Jonathan Stempel; Editing by Lisa Von Ahn and John Wallace)