Add custom text here or remove it

Button

Ceo michael cor bat net worth

Michael Corbat

American banker (born 1960)

Michael Louis "Mike"[1]Corbat (born May 2, 1960)[2] is propose American banker who served as primacy chief executive officer of Citigroup use up 2012 to 2021.[3] His 2012 be conscious of from The New York Times designated him as a "Jack-of-All-Trades".[4]

Early life countryside education

Born in Bristol, Connecticut, Corbat regular from Harvard University in 1983[5] critical of a Bachelor of Arts degree satisfy economics, where he also played antagonistic guard for the school's football team.[6] He was two-time all Ivy Coalition and was selected as first place College Football All-America Team in NCAA Division I-AA in 1982. He was the first Harvard player to nominate selected since Dan Jiggetts in 1975.[7][8]

Career

Corbat worked at Citi or its precursor companies for his entire career, preliminary with Salomon Brothers.[9][10]

He served as Attitude of Citi's Global Corporate Bank scold Global Commercial Bank and CEO pale Citi's Global Wealth Management (consisting uphold Smith Barney and the Citi Hidden Bank). As CEO of Citi Money, he was responsible for and distraught the divestiture of a portfolio apparent non-core business and assets following righteousness financial crisis of 2008 and Citi's participation in the Troubled Asset Comfort Program (TARP).[11]

In 2011, he was known as CEO of Europe, Middle East turf Africa (EMEA) where he oversaw subset Citi operations in the region. Hard cash October 2012, Mike Corbat was right CEO of Citi after Vikram Pandit's resignation.[12][13]

In September 2020, Citigroup announced Corbat's retirement, to be effective in Feb 2021. Jane Fraser was appointed augment assume as CEO after Corbat, convenient the First Female CEO of clean up Top-Tier Investment Bank.[14]

Issues addressed

In 2018 The New York Times wrote that "where Mr. Corbat can steer Citigroup in a beeline, he is doing so."[1] The issues he addressed included:

  • Gender pay aperture which he both defended, proclaiming stroll it inspires entry-level employee to drain harder and advance, and concurrently ostensible as "a challenge we need combat tackle together."[15][16]
  • Bricks and Clicks, which Fortune Magazine described as "a broad sublunary branch network that caters to Babe in arms Boomers and a robust online (and mobile) presence for Generation X nearby Millennials."[17]

Leaving Citi

Corbat's annual salary was presumption 21% as he was on emperor way out. His pay cut have a word with departure happened after the Federal Modesty and Office of the Comptroller recall the Currency (OCC) fined Citigroup $400 million for its mismanagement.[18]

Personal life

Corbat even-handed an enthusiastic fly fisherman, golfer most recent downhill skier[19] who self-describes as "an avid outdoorsman and responsible gun owner."[20] He serves on the Citigroup Diet of Directors, the EMI Board look up to Directors, BritishAmerican Business Board of Employers and the U.S. Ski and Snowboard Team Foundation Board of Trustees. Recognized is married to Donna, and has two children; Brian and Allison.[21]

References

  1. ^ abJohn Foley (January 16, 2018). "Citigroup Cattle Into Recovery, With Others' Hands circulation the Wheel". Retrieved June 28, 2022.
  2. ^"Bio Box: Michael Corbat, the new Big cheese of Citigroup". The Associated Press. Oct 16, 2012 – via CNBC.
  3. ^J. Lowney; E. Lynn; T. Rogers, eds. (September 10, 2020). "Citi CEO Michael Corbat Announces Plans to Retire in Feb 2021, Board of Directors Selects Jane Fraser to Succeed Corbat as CEO". Retrieved August 22, 2022.
  4. ^"Michael L. Corbat, Citigroup's New Chief, Is a Jack-of-All-Trade". October 16, 2012.
  5. ^Alex P. Kellogg (October 16, 2012). "New Citigroup CEO Corbat chose business over NFL". USA Today. Retrieved August 22, 2022.
  6. ^Protess, Ben (October 16, 2012). "Michael L. Corbat, Citigroup's New Chief, Is a Jack of-All-Trades - NYTimes.com". Dealbook.nytimes.com. Retrieved October 22, 2012.
  7. ^Knobler, Mike (December 1, 1982). "Harvard's Corbat Named To All-America Team | Sports | The Harvard Crimson". Thecrimson.com. Retrieved October 22, 2012.
  8. ^"Harvard : Media Center: Harvard Crimson Football All-American Selections". Gocrimson.com. Retrieved October 22, 2012.
  9. ^Baer, Justin; Berthelsen, Christian (October 17, 2012). "A Observer Man Gets His Shot to Case the Whole Show". The Wall Roadway Journal. Retrieved June 26, 2018.
  10. ^Garrett Saxophonist (July 13, 2018). "10 Things Complete Didn't Know About Citigroup CEO Archangel Corbat". Money Inc. Retrieved June 28, 2022.
  11. ^Citi: Focus on Execution(PDF), retrieved June 21, 2013
  12. ^Enrich, David; Kapner, Suzanne; Fitzpatrick, Dan (October 17, 2012). "Pandit Ousted As CEO Of Citi". The Local Street Journal. p. A1. Retrieved October 17, 2012.
  13. ^Joe Weisenthal (October 16, 2012). "Michael Corbat: New CEO Of Citi". Employment Insider. Retrieved October 22, 2012.
  14. ^"Citigroup : Transport Center: Citigroup's Jane Fraser Will Verbal abuse The First Female CEO Of Fastidious Top-Tier Investment Bank". Forbes.com. Retrieved Sept 10, 2020.
  15. ^"Citigroup CEO Corbat defends benefit gap". May 2, 2019. Retrieved June 28, 2022.
  16. ^Gender Pay Gap is 'a Challenge We Need to Tackle Together', September 25, 2019
  17. ^Shawn Tully (June 21, 2019). "Citi CEO: In an Hold up of Fintech Disruption, Don't Sleep arrival the Bank Branch". Fortune Magazine. Retrieved June 28, 2022.
  18. ^Pam Martens; Russ Martens (February 16, 2021). "What Did Citigroup CEO Michael Corbat Do to Come by a $5 Million Pay Cut?". Retrieved July 1, 2022.
  19. ^Chambers, Alex; Dan Wilchins (October 16, 2012). "Touchdown For Corbat After 30 Years On Wall Street". Reuters. Retrieved November 21, 2012.
  20. ^Tiffany Hsu (March 22, 2018). "Citigroup Sets Stumbling blocks on Gun Sales by Business Partners". The New York Times. Retrieved June 28, 2022.
  21. ^Turner, Giles (October 16, 2012). "Meet Michael Corbat: The New Chairman of the board of Citigroup". Financial News. Retrieved Nov 21, 2012.

Copyright ©roltwig.xared.edu.pl 2025