Michael Corbat

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Michael Corbat
Michael Corbat, CEO of Citigroup Inc., 2014.jpg
Born
Michael L. Corbat

(1960-05-02) May 2, 1960 (age 58)
EducationB.A. — Economics
Alma materHarvard University
OccupationChief Executive (CEO), Citigroup
Years active1983–present
Salary$23 million (2017)[1]

Michael L. Corbat (born May 2, 1960) is an American banker and the current chief executive (CEO) 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]

Career[edit]

Corbat has worked at Citi or its predecessor companies for his entire career, starting with Salomon Brothers.[6] 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. [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. He has a wife; Donna, as well as two children; Brian and Allison. [9]

References[edit]

  1. ^ Merlin, Anders; Surane, Jennifer (February 16, 2018). "Citigroup Lifts Corbat's Compensation 48% to $23 Million for 2017". Bloomberg.com. Retrieved 2018-06-26.
  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. ^ Baer, Justin; Berthelsen, Christian (17 October 2012). "A Company Man Gets His Shot to Run the Whole Show". The Wall Street Journal. Retrieved 26 June 2018.
  7. ^ Joe Weisenthal (2012-10-16). "Michael Corbat: New CEO Of Citi". Business Insider. Retrieved 2012-10-22.
  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
2012–present
Incumbent