Citigroup Names John Dugan as its Next Chairman

Citigroup Inc. is continuing to keep the chairman and chief executive roles separate as the bank’s board selects director John Dugan, a former top banking regulator, as its next chairman. Mr. Dugan will move into the role in January, following current Chairman Michael O’Neill’s retirement. Current CEO Michael Corbat will continue in that role according to a story in The Wall Street Journal. Mr. Dugan was a senior U.S. Treasury official in the late 1980s and early 1990s, and later advocated on behalf of banks as a partner at law firm Covington & Burling LLP. He was head of the Office of the Comptroller of the Currency from 2005 to 2010.