Citigroup shuffles management, Pandit remains


Citigroup (C) announced today that is was changing several top management roles in the company, which CEO Vikram Pandit described as moves that will "further help in positioning our company for the future."

CFO Ned Kelly will step down and transition to a role with "broader responsibilities for strategy and M&A," which likely means he will be responsible for selling parts of the company to simplify operations. Kelly became the CFO in March 2009, and will be replaced by John Gerspach, Citi's controller and Chief Accounting Officer. Gary Crittenden, who was Citi's CFO for two years before becoming Chairman of subsidiary Citi Holdings, will leave the company to spend more time with family. Notably absent from the list was Pandit, who has been the target of much criticism for his management of Citigroup.