The latest round of musical chairs at Citigroup has found American Express chief financial officer Gary Crittenden sitting in chief financial officer chair at the bank. For those of you keeping score at home, that position was vacated by Sallie Krawcheck last month. Krawcheck moved out of the CFO slot last month to head Citigroup's global wealth management division after it's former head, Todd Thomson, left Citigroup under a cloud and amidst rumors about lavish spending, travel and an inappropriate relationship with CNBC on-air personality Maria Bartiromo.
But if Citigroup hoped that naming Crittenden would quite the rampant rumor-mongering and speculation about further possible moves and successions, it's likely to find that hope frustrated. The very first sentence of this morning's Wall Street Journal report on the Crittenden hiring makes it clear that Wall Street's eyes remain focused on the top-prize at Citigroup—who will succeed chief executive Chuck Prince.
Citigroup Inc.'s naming of American Express Co.'s chief financial officer to be the New York-based bank's next finance chief fills a gap in Chief Executive Charles Prince's leadership team but doesn't clear up who eventually will replace him as CEO.
Before his sudden departure, Thomson was thought to be a likely successor. Here's the Journal's list of the remaining likely successors:
If he is ever considered for the top job, Mr. Crittenden would join five other Citigroup executives as potential successors to Mr. Prince, who is also chairman: Manuel Medina-Mora, head of Citigroup in Latin America; Tom Maheras and Michael Klein, co-presidents of the corporate-and-investment bank; Ajay Banga, head of the international consumer business; and Ms. Krawcheck.