Citi Hires Morgan Stanley Exec to Sell Assets

Citigroup (C Quote) has hired Morgan Stanley (MS Quote) executive James von Moltke to lead the troubled company's continued asset divestitures.

Von Moltke will head up the company's Corporate Mergers & Acquisitions team. He will replace Vince Fandozzi, who will work with von Moltke to assist in the transition and then be transferred to another senior position within the company, according to an internal memo distributed Wednesday to employees by CFO Ned Kelly and Vice Chairman Lewis Kaden.

Von Moltke will report to both Kelly and Kaden. He is expected to begin his position in July, according to a Citi spokesman. ...