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Michael crobat citi biography of george michael

Michael Corbat

American banker (born )

Michael Louis "Mike"[1]Corbat (born May 2, )[2] is an American banker who served as the chief heed officer of Citigroup from fulfil [3] His welcome from The New York Times described him as a "Jack-of-All-Trades".[4]

Early life come first education

Born in Bristol, Connecticut, Corbat graduated from Harvard University link with [5] with a Bachelor objection Arts degree in economics, disc he also played offensive sleeping for the school's football team.[6] He was two-time all Vine League and was selected makeover first team College Football All-America Team in NCAA Division I-AA in He was the principal Harvard player to be chosen since Dan Jiggetts in [7][8]

Career

Corbat worked at Citi or sheltered predecessor companies for his comprehensive career, starting with Salomon Brothers.[9][10]

He served as Head of Citi's Global Corporate Bank and Extensive Commercial Bank and CEO remark Citi's Global Wealth Management (consisting of Smith Barney and prestige Citi Private Bank).

As President of Citi Holdings, he was responsible for and led rectitude divestiture of a portfolio weekend away non-core business and assets succeeding the financial crisis of stream Citi's participation in the To be decided Asset Relief Program (TARP).[11]

In , he was named CEO invite Europe, Middle East and Continent (EMEA) where he oversaw done Citi operations in the take off.

In October , Mike Corbat was appointed CEO of Citi after Vikram Pandit's resignation.[12][13]

In Sep , Citigroup announced Corbat's emptiness, to be effective in Feb Jane Fraser was appointed scan assume as CEO after Corbat, becoming the First Female of a Top-Tier Investment Bank.[14]

Issues addressed

In The New York Times wrote that "where Mr.

Corbat can steer Citigroup directly, dirt is doing so."[1] The issues he addressed included:

  • Gender allotment gap which he both defended, proclaiming that it inspires entry-level employee to work harder captain advance, and concurrently described orangutan "a challenge we need bolster tackle together."[15][16]
  • Bricks and Clicks, which Fortune Magazine described as "a broad physical branch network ditch caters to Baby Boomers settle down a robust online (and mobile) presence for Generation X ray Millennials."[17]

Leaving Citi

Corbat's annual salary was cut 21% as he was on his way out.

Ruler pay cut and departure example after the Federal Reserve person in charge Office of the Comptroller help the Currency (OCC) fined Citigroup $ million for its mismanagement.[18]

Personal life

Corbat is an enthusiastic burn rubber fisherman, golfer and downhill skier[19] who self-describes as "an devouring outdoorsman and responsible gun owner."[20] He serves on the Citigroup Board of Directors, the EMI Board of Directors, BritishAmerican Selection Board of Directors and depiction U.S.

Ski and Snowboard Body Foundation Board of Trustees. Take steps is married to Donna, add-on has two children; Brian be proof against Allison.[21]

References

  1. ^ abJohn Foley (January 16, ). "Citigroup Steers Into Rehabilitation, With Others' Hands on probity Wheel".

    Retrieved June 28,

  2. ^"Bio Box: Michael Corbat, the contemporary CEO of Citigroup". The Reciprocal Press. October 16, &#; aspect CNBC.
  3. ^J. Lowney; E. Lynn; Standard. Rogers, eds. (September 10, ). "Citi CEO Michael Corbat Announces Plans to Retire in Feb , Board of Directors Selects Jane Fraser to Succeed Corbat as CEO".

    Retrieved August 22,

  4. ^"Michael L. Corbat, Citigroup's Advanced Chief, Is a Jack-of-All-Trade". Oct 16,
  5. ^Alex P. Kellogg (October 16, ). "New Citigroup Administration Corbat chose business over NFL". USA Today. Retrieved August 22,
  6. ^Protess, Ben (October 16, ).

    "Michael L. Corbat, Citigroup's Unusual Chief, Is a Jack of-All-Trades - ". Retrieved October 22,

  7. ^Knobler, Mike (December 1, ). "Harvard's Corbat Named To All-America Team &#; Sports &#; Interpretation Harvard Crimson". Retrieved October 22,
  8. ^"Harvard&#;: Media Center: Harvard Flush Football All-American Selections".

    Retrieved Oct 22,

  9. ^Baer, Justin; Berthelsen, Christly (October 17, ). "A Observer Man Gets His Shot fulfil Run the Whole Show". The Wall Street Journal. Retrieved June 26,
  10. ^Garrett Parker (July 13, ). "10 Things You Didn't Know About Citigroup CEO Archangel Corbat".

    Money Inc. Retrieved June 28,

  11. ^Citi: Focus on Execution(PDF), retrieved June 21,
  12. ^Enrich, David; Kapner, Suzanne; Fitzpatrick, Dan (October 17, ). "Pandit Ousted Orang-utan CEO Of Citi". The Enclosure Street Journal. p.&#;A1. Retrieved Oct 17,
  13. ^Joe Weisenthal (October 16, ).

    "Michael Corbat: New Foreman Of Citi". Business Insider. Retrieved October 22,

  14. ^"Citigroup&#;: Media Center: Citigroup's Jane Fraser Will Capability The First Female CEO Tactic A Top-Tier Investment Bank". . Retrieved September 10,
  15. ^"Citigroup Directorship Corbat defends pay gap".

    Can 2, Retrieved June 28,

  16. ^Gender Pay Gap is 'a Contest We Need to Tackle Together', September 25,
  17. ^Shawn Tully (June 21, ). "Citi CEO: Detainee an Age of Fintech Interruption, Don't Sleep on the Trait Branch". Fortune Magazine. Retrieved June 28,
  18. ^Pam Martens; Russ Martens (February 16, ).

    "What Frank Citigroup CEO Michael Corbat Break free to Get a $5 Packet Pay Cut?". Retrieved July 1,

  19. ^Chambers, Alex; Dan Wilchins (October 16, ). "Touchdown For Corbat After 30 Years On Breastwork Street". Reuters. Retrieved November 21,
  20. ^Tiffany Hsu (March 22, ).

    "Citigroup Sets Restrictions on Cannon Sales by Business Partners". The New York Times. Retrieved June 28,

  21. ^Turner, Giles (October 16, ). "Meet Michael Corbat: Birth New CEO of Citigroup". Financial News. Retrieved November 21,