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Citigroup (C Quote) is shaking up its highest ranks, promoting an executive many believe is being groomed as an eventual successor to CEO Vikram Pandit.
The New York-based company said on Thursday that CFO Edward "Ned" Kelly, 56, will become vice chairman and take on broader responsibilities for strategy and M&A. Kelly will work closely with Pandit "to drive the execution of Citi's strategic and operational priorities," the company said.
John Gerspach, Citi's controller and chief accounting officer, will replace Kelly as CFO, it said. ...
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