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Business Services Industry

Citi Appoints Teresa A. Dial CEO of Consumer Banking, North America

Business Wire, March 31, 2008

Dial Also Named Global Head of Consumer Strategy

Industry Veteran Led Lloyds TSB UK Retail Banking Turnaround; Credited with Wells Fargo Bank Success

NEW YORK -- Citi today announced that Teresa A. "Terri" Dial has been appointed Chief Executive Officer of Citi Consumer Banking in North America, reporting directly to Citi Chief Executive Officer Vikram Pandit. In addition, Ms. Dial was named Global Head of Consumer Strategy, and in that position she will direct the company's retail banking strategy worldwide. Ms. Dial will be based at the company's global headquarters in New York.

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In her newly created role, Ms. Dial will oversee Citi's Consumer Banking businesses in North America, including Citi's Retail Branch Network, CitiFinancial, CitiMortgage and all other consumer businesses with the exception of Citi Cards.

Ms. Dial has led two very successful consumer banking operations - Wells Fargo Bank in the United States and Lloyds TSB UK Retail Banking. She is widely known for achieving industry-leading financial results by operating tightly managed businesses driven by pioneering innovation.

"During her 35-year career, Terri has earned a reputation as one of our industry's most dynamic and effective leaders," said Mr. Pandit. "She has a record of great success in achieving impressive bottom-line results, building customer loyalty and fostering a strong employee culture. Her innovative work in new products, technology and distribution strategies has driven consistent profitability and growth for her organizations while setting new standards of excellence for the banking industry."

Mr. Pandit added, "Our flagship Consumer Banking businesses have very strong fundamentals, including the most powerful brand name in our industry. Terri offers a unique combination of expertise and experience to capitalize on those strengths and take the Citi consumer franchise to new dimensions of growth. Our key priorities at Citi today are to manage our capital for profitability, create a strong base for future earnings growth, streamline our organization and build a vibrant internal culture with the best talent and best customer service. Terri will play a vital role in our achieving those objectives."

Mr. Pandit also said that as Global Head of Consumer Strategy, Ms. Dial will work collaboratively with the company's Regional Heads (Asia Pacific, including Japan; Mexico and Latin America; Western Europe, Middle East and Africa; and Central and Eastern European) to ensure consistent application of worldwide standards and best practices in marketing, customer service, innovation, decision analytics and technology across all of Citi's Consumer Banking operations.

About Ms. Dial

Terri Dial, 58, was most recently Group Executive Director, UK Retail Banking and a member of the board of directors at Lloyds TSB Group plc. Considered one of the leading experts in retail banking, Ms. Dial led Lloyds TSB UK Retail Banking to record customer satisfaction, employee engagement and sales. Prior to Lloyds TSB, Ms. Dial was President and Chief Executive Officer of Wells Fargo Bank, a subsidiary of Wells Fargo & Co. During her nearly 30-year tenure, Ms. Dial is credited with building Wells Fargo into one of the most successful banks in the United States. Ms. Dial also has served in various non-executive roles. Ms. Dial earned a Bachelor's degree in Political Science from Northwestern University.

Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.

Business Services Industry

Citi Appoints Teresa A. Dial CEO of Consumer Banking, North America

Business Wire, March 31, 2008

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