Skip to main content

Updated from 12:26 p.m. EDT


(C) - Get Citigroup Inc. Report

said it has tapped Robert Lipp to join Chairman and Chief Executive Sanford Weill and former U.S. Treasury Secretary Robert Rubin in the company's office of the chairman.

Lipp, 62, is the chairman and chief executive of the company's global consumer group. Citigroup, a product of the 1998 merger between Citicorp and

Scroll to Continue

TheStreet Recommends


, said Lipp will oversee its technology and cross-selling efforts.

In a statement, Citigroup's Weill called Lipp "a true czar" of cross-selling, or selling products from one division to customers of another group within the company.

"To reach the next stage of our growth, we need to build on our success in cross selling," Weill said in the statement, "Create state-of-the-art operating systems for our diverse global businesses and increase our use of technology to better serve customers and enhance efficiency."

Lipp will keep his post as chairman and chief executive of the global consumer group, a division that recorded $4.4 billion in core earnings in 1999, a 38% increase from the previous year, the company said.

Citigroup closed up 5/16, or .4% at 70 7/8.