Citigroup Picks Pandit for CEO Post

Citigroup names Vikram Pandit, the head of its investment banking business, as CEO. Pandit's selection comes after a five-week search. He ran a hedge fund bought by Citigroup earlier this year, and is viewed as a careful and decisive. The bank also names acting CEO Sir Win Bischoff as its chairman, replacing Robert E. Rubin.

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