Citigroup Losing Another Executive?

Author:
Publish date:

There’s been lots of chatter about Citigroup this week in anticipation of Monday’s first quarter earnings announcement. Market Beat lists five reasons why Citigroup should be broken up. Eddy Elfenbein defends Chuck Prince against the charge that he’s doing a poor job of running Citigroup. Michelle Leder wonders if Citi will disclose the Todd Thompson settlement in its 10-K. Felix Salmon hopes that Bob Druskin will succeed Chuck Prince, pointing out that he has a very evil looking mustache. Roger Ehrenberg points out that its not a good sign when you have to pay someone $800 million just to start working for you.
So let us add some fuel to this fire. We’re hearing rumors that Robert Rubin, who has been at Citigroup since leaving the Clinton administration in 1999, may step down to take a position in Hillary Clinton’s campaign for the Democratic presidential nomination. The addition of Rubin to the Clinton campaign would no doubt be a boon to fundraising—Rubin was a favorite of Wall Street as Treasury Secretary and a fundraising powerhouse for Bill Clinton. Perhaps more importantly, having Rubin attached to the campaign would make Team Obama seem intellectually shallow, particularly on financial and economic issues.

Related