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Stock Analyst Update

Citigroup's Moves Logical, Conservative

Financial-services giant promotes two execs, offers to buy rest of Travelers.


Citigroup (C) made some logical, yet conservative, moves Tuesday, filling two top executive posts and outlining a plan to buy the remaining 15% of Travelers Property Casualty (TAP) that it doesn't already own.

The nation's largest financial-services company tapped Todd Thomson, chief executive officer of Citibank's global private bank, to be chief financial officer, while Victor Menezes, Citibank's president, will become chairman and chief executive of the banking unit.

Laura Pavlenko Lutton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.