logo
Plus   Neg
Share
Email

Citi Appoints John Dugan To Succeed Retiring Chairman Michael O'Neill

Citi said Monday that its Chairman Michael O'Neill will retire on January 1, 2019 and the Board has appointed John Dugan to succeed O'Neill as Chairman on that date.

Prior to his current service as a Citi Director, Dugan was a partner for nearly seven years at Covington & Burling LLP, where he had previously advised on financial institution regulatory matters from 1993 to 2005. In his most recent role, he chaired Covington's Financial Institutions Group, where he counseled a broad range of financial services firms and provided independent advice to boards of directors, including Citi's Board, which he advised from 2015 until he retired from Covington in September 2017.

From 2005 to 2010, Dugan served as Comptroller of the Currency, heading the agency that supervised over 1,500 national banks and federal branches of foreign banks. He also served on the Board of Directors of the Federal Deposit Insurance Corporation.

Dugan previously served at the U.S. Department of the Treasury from 1989 to 1993, where he was appointed Assistant Secretary for Domestic Finance and had extensive responsibility for policy initiatives involving banks and financial institutions. From 1985 to 1989, Dugan was Counsel and Minority General Counsel to the U.S. Senate Committee on Banking, Housing, and Urban Affairs.

Following Mr. O'Neill's retirement, the Citi Board will consist of 16 directors.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swiss engineering major ABB Ltd. teamed with Italian utility Evolvere to launch a blockchain pilot project to explore transparent, secure peer-to-peer solar energy transactions, media outlet PV Tech reported. The companies will test the potential of blockchain technology in solar systems. The blockchain technology was developed in partnership with Prosume. Shares of Tesla Inc. are losing more than 5 percent in Monday's trading after Wedbush Securities analyst Daniel Ives slashed his price target on the luxury electric car maker's stock, citing "major concerns" around the trajectory of Tesla's growth prospects. In a note to investors, Ives also said he has concerns over underlying demand for Model 3 cars in the U.S. over the coming quarters. Amazon Inc. is leading a new $575 million investment in British food delivery company Deliveroo, intensifying the e-commerce giant's competition with rival Uber and its Uber Eats service. Deliveroo noted that Amazon is set to be the largest investor in the Series G preferred shared funding round. With the latest funding round, Deliveroo has raised $1.53 billion.
Follow RTT