US wanted Citi to oust its CFO

American regulators are thought to have piled the pressure on US bank Citigroup to replace its finance head weeks before his shock departure. The development confirms investors’ belief that the replacement of Ned Kelly by Citi veteran John Gerspach in July after fewer than four months in the job had been triggered by the key US regulators dealing with the matter: the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation.