Citi has appointed Michael Klein as the chairman and John Havens as the CEO of its institutional clients group, effective immediately.
Institutional clients group (ICG) is comprised of Citi markets and banking business, and Citi alternative investments (CAI) business. Mr Klein and Mr Havens will report to Vikram Pandit, CEO of Citi. Mr Havens has also been appointed as the chairman of CAI.
Mr Klein will lead the organization to closer ties with clients and concentrate on building client relationships with prominent corporations, governments and institutions around the world.
Mr Havens will be responsible for the management and strategic oversight of ICG as well as for setting the strategy and direction of CAI. In addition, Mr Klein, working with Mr Pandit, Mr Havens and Citi’s senior management, will focus on ICG and corporate strategies.
Mr Klein will chair a company-wide client committee focused on delivering ‘one-Citi’ to all clients and work on other firm-wide projects.
Mr Pandit said: I am confident that with Michael focused on leadership with clients and John focused on management, we have a great partnership leading this institution.