American Express exec named Citigroup CFO

/ Source: The Associated Press

Citigroup Inc. said Sunday that it has named Gary Crittenden as its chief financial officer.

Crittenden, formerly executive vice president and CFO at American Express Co., will begin his new job March 12. He will report directly to Citigroup Chairman and Chief Executive Charles Prince.

"Gary has demonstrated an exceptional ability to help the organizations he has worked for to generate superior value by supporting the successful execution of their business strategies with the development and implementation of sophisticated financial strategies," Prince said in a written statement. "Gary's proven record and expertise in strategic financial management, together with his substantial experience in the consumer business, will accelerate our growth across the franchise."

Crittenden, 53, replaces Sallie L. Krawcheck, who left the post last month to replace Todd Thomson as Citigroup's head of global wealth management. Thomson resigned amid reports he had been forced out for extravagant spending as well as dealings with CNBC financial anchor Maria Bartiromo, including trips on Citigroup jets and plans for an investment in a TV program she was connected to.

Crittenden joined American Express as executive vice president and CFO in June 2000. In June 2005, he became head of the company's Global Network Services unit. Before joining American Express, Crittenden had served as CFO at Monsanto Co. and Sears Roebuck and Co.

American Express named Dan Henry, the company's executive vice president and CFO of U.S. consumer, small business and merchant services, as acting CFO, effective immediately. Before joining American Express in 1990 as comptroller, Henry was a partner at the company's independent auditors, Ernst & Young.