Citigroup Stock Rises, as It Names Directors

Updated from 2:43 p.m. EDT

Citigroup (C Quote) shares skyrocketed more than 50% Monday, after it named -- as expected -- four new independent members to its board of directors, including two former bank CEOs.

Citi's new board members include Jerry Grundhofer, former chairman and CEO of US Bancorp (USB Quote), Michael O'Neill, the former chairman and CEO of Bank of Hawaii (BOH Quote) , William Thompson, the retired CEO of Pimco and Anthony Santomero, who was most recently a senior advisor at McKinsey & Co. and a former president of the Federal Reserve Bank of Philadelphia.

Published reports on Friday had identified the four executives. Shares surged as high as $2.68, but closed up 30.9% to $2.33 on Monday. ...