Former Citigroup, Inc (NYSE: C) executive Robert Swannell will become the next chairman of British-retailer Marks and Spencer, announced the company on Monday.
The company said on Monday that Swannell will succeed Sir Stuart Rose as chairman, who recently gave up his role as chief executive of the merchant, which sells food and clothing.
Swannell, age 59, was previously the Vice Chairman of Citi-Europe and Co-Chairman of Citigroup, Inc (NYSE: C)’s European Investment Bank. Most recently, Swannell was chairman of HMV Group and a director of two other companies.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services. As of December 31, 2009, Citigroup had approximately 200 million customer accounts and did business in more than 140 countries. Citigroup operates through two primary business segments: Citicorp, consisting of its Regional Consumer Banking (RCB) businesses and Institutional Clients Group (ICG), and Citi Holdings, consisting of its Brokerage and Asset Management (BAM), Local Consumer Lending (LCL), and Special Asset Pool (SAP). In April 2010, Barclays PLC acquired Italian credit card business of Citibank International Bank plc. In May 2010, the Company announced the creation of a new Collateral Management Services unit within its Securities and Fund Services business.
Shares of Citigroup, Inc (NYSE: C) traded flat at $3.75 on Monday.
