Michael Corbat

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search


Michael Corbat
Michael Corbat, CEO of Citigroup Inc., 2014.jpg
Born Michael L. Corbat
(1960-05-02) May 2, 1960 (age 58)
Bristol, Connecticut, U.S.
Education B.A. — Economics
Alma mater Harvard University
Occupation Banker
Years active 1983–present
Salary $23 million (2017)

Michael L. Corbat (born May 2, 1960) is an American banker and the current chief executive officer of Citigroup, a position he has held since October 2012.[2]

Early life and education[edit]

Born in Bristol, Connecticut, Corbat graduated from Harvard University with a B.A. in economics where he also played offensive guard for the school's football team.[3] He was two time all Ivy League and was selected as first string College Football All-America Team in NCAA Division I-AA in 1982. He was the first Harvard player to be selected since Dan Jiggetts in 1975.[4][5] While at Harvard, Corbat was a member of The AD final club along with several other social societies.[citation needed]


Corbat has worked at Citi or its predecessor companies for his entire career, starting with Salomon Brothers.[citation needed] He has served as Head of Citi's Global Corporate Bank and Global Commercial Bank and CEO of Citi's Global Wealth Management (consisting of Smith Barney and the Citi Private Bank). As CEO of Citi Holdings, he was responsible for and led the divestiture of a portfolio of non-core business and assets following the financial crisis of 2008 and Citi's participation in the Troubled Asset Relief Program.[citation needed] In 2011, he was named CEO of Europe, Middle East and Africa (EMEA) where he oversaw all Citi operations in the region. In October 2012, Mike Corbat was appointed CEO of Citi after Vikram Pandit's resignation. [6]

Corbat earned US$15.5 million in 2016.[7]

Personal life[edit]

Corbat is an enthusiastic fly fisherman, golfer and downhill skier.[8] He serves on the Citigroup Board of Directors, the EMI Board of Directors, BritishAmerican Business Board of Directors and the U.S. Ski and Snowboard Team Foundation Board of Trustees.[9]


  1. ^ https://www.bloomberg.com/news/articles/2018-02-16/citigroup-lifts-corbat-s-compensation-48-to-23-million-for-17
  2. ^ Enrich, David; Kapner, Suzanne; Fitzpatrick, Dan (October 17, 2012). "Pandit Ousted As CEO Of Citi". The Wall Street Journal. p. A1. Retrieved October 17, 2012. 
  3. ^ Protess, Ben (2012-10-16). "Michael L. Corbat, Citigroup's New Chief, Is a Jack-of-All-Trades - NYTimes.com". Dealbook.nytimes.com. Retrieved 2012-10-22. 
  4. ^ Knobler, Mike (1982-12-01). "Harvard's Corbat Named To All-America Team | Sports | The Harvard Crimson". Thecrimson.com. Retrieved 2012-10-22. 
  5. ^ "Harvard : Media Center: Harvard Crimson Football All-American Selections". Gocrimson.com. Retrieved 2012-10-22. 
  6. ^ Joe Weisenthal (2012-10-16). "Michael Corbat: New CEO Of Citi". Business Insider. Retrieved 2012-10-22. 
  7. ^ Blood, David; Noonan, Laura (February 16, 2018). "Bank chief executives' pay 2016". Financial Times. Retrieved August 5, 2017. 
  8. ^ Chambers, Alex; Dan Wilchins (16 October 2012). "Touchdown For Corbat After 30 Years On Wall Street". Reuters. Retrieved 21 November 2012. 
  9. ^ Turner, Giles (16 October 2012). "Meet Michael Corbat: The New CEO of Citigroup". Financial News. Retrieved 21 November 2012. 
Business positions
Preceded by
Vikram Pandit
Citigroup CEO