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Citigroup trio under threat

THE future of three of US bank Citigroup&rsquo;s biggest names has been thrown into doubt following an external review of the company.<br /><br />A report by consultancy firm Egon Zehnder, commissioned by regulators earlier in the year, found that Citi&rsquo;s management team, led by chief executive Vikram Pandit, was generally up to scratch.<br /><br />But the report did express concern about the capability of Terri Dial, head of Citi&rsquo;s consumer bank, Lew Kaden, who heads the legal and human resources departments and Don Callahan, the bank&rsquo;s chief administrative officer.<br /><br />The board of the bank, which is 34 per cent owned by the US government, will now decide if it should act.<br /><br />Of the trio, Dial is the most high profile and has presided over an arm of the company that has been loss-making for most of the last year.<br /><br />Dial is said to be close to coming up with a plan for Citi&rsquo;s consumer operations, but the Egon Zehnder report is understood to have criticised her lack of a strategic vision for the division.<br /><br />Kaden was said to have too many responsibilities, including acquisitions, human resources, audit, legal, compliance and many more.<br /><br />Callahan, who runs the bank&rsquo;s technology and operations, is believed to have taken flak for failing to improve that side of the business.<br /><br />However, the report was generally complimentary about the bank&rsquo;s executives.