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Crittenden
to be next CFO at Citigroup
Houston: Citigroup has appointed Gary Crittenden (53)
as its chief financial officer to fill a month-old vacancy
caused by an executive reshuffle. Crittenden was the chief
financial officer at American Express and is expected
to cut costs that have impacted Citi's profits and stunted
its stock performance while its competitors have enjoyed
more heady times.
American
Express on the other hand has appointed Dan Henry as acting
chief financial officer while it begins its search to
permanently fill Crittenden's vacated spot.
Citi
said Crittenden will start work on March 12 and will report
to Chuck Prince, chairman and chief executive Citi.
Crittenden
has been CFO of American Express since June 2000 where
he's been widely lauded by the investor community for
his hands-on approach. He also had responsibility for
the American Express unit that builds and maintains partnerships
with banks that issue American Express credit cards.
He's
also a director on the boards of UPS and Staples, has
been a CFO of Monsanto and an executive at Sears Roebuck.
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US
initial jobless claims down
Washington:
First-time state unemployment benefits fell last week
after rising in the previous week by the highest since
September 2005.
Initial
jobless claims fell by 27,000 to 3,32,000 in the week
ended February 17, the Labor Department said on Thursday
in Washington. The government said the rise in the prior
week was due to winter storms in some areas. The four-week
moving average, a less volatile indicator, rose to 328,000
from 3,26,750 the prior week.
Economists
had forecast claims to fall to 3,25,000 from the 3,57,000
initially reported for the previous week.
The
unemployment rate among people eligible for benefits remained
at 1.9 pc. Continuing claims fell by 45,000 to 2.51 million.
Twenty-nine states and territories reported an increase
in new claims in the week ended February 10, while 24
reported a decrease, the Labor Department said.
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