Citigroup, Inc (NYSE: C) has hired American Express Co. (NYSE: AXP) executive Jud Linville as the company’s new CEO of cards, the company announced on Tuesday.
Linville had previously spent 20 years working at American Express Co. (NYSE: AXP), most recently being the chief executive of U.S. consumer services. Linville will replace Paul Galant as head of Citigroup’s card unit.
Galant will become the chief executive of the company’s new global enterprise payments unit, which Citigroup said will create a “comprehensive business-to-consumer and consumer-to-business payments solutions” for global corporations, financial institutions and governments. Galant previously ran Citigroup’s global transactions services business before taking over Citigroup’s cards unit in April 2009.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services. As of December 31, 2009, Citigroup had approximately 200 million customer accounts and did business in more than 140 countries. Citigroup operates through two primary business segments: Citicorp, consisting of its Regional Consumer Banking (RCB) businesses and Institutional Clients Group (ICG), and Citi Holdings, consisting of its Brokerage and Asset Management (BAM), Local Consumer Lending (LCL), and Special Asset Pool (SAP). In April 2010, Barclays PLC acquired Italian credit card business of Citibank International Bank plc. In May 2010, the Company announced the creation of a new Collateral Management Services unit within its Securities and Fund Services business.
Shares of Citigroup, Inc (NYSE: C) traded down 1.25 % during mid-day trading on Tuesday.
