Citi names Pandit CEO

(My guess was right on - Guessed in my blog Dec 7th)

Troubled bank picks head of investment banking as new chief. Interim CEO Bischoff to become chairman.

By David Ellis, CNNMoney.com staff writer
December 11 2007: 2:49 PM EST

A little over a month after the exit of Charles Prince, Citigroup tapped Vikram Pandit to lead the firm.

Citigroup also said that Sir Win Bischoff, who formerly headed up Citi's European unit, would take succeed Robert Rubin as company chairman.

NEW YORK (CNNMoney.com) -- After weeks of searching for a new CEO, Citigroup confirmed speculation Tuesday, naming investment banking chief Vikram Pandit its new chief executive, with interim CEO Sir Win Bischoff taking over as chairman.

The New York-based bank said Pandit would take over as CEO effective immediately.

"The combination of his deep executive experience and long history as a strategic thinker makes the the outstanding choice to be Citi's CEO," Robert Rubin, Citigroup's acting chairman, said in a prepared statement.

(http://www.cnn.com)