Citi replaces chairman

Citi has named Richard Parsons, lead director and chair of the board's nomination and governance committee, as the successor to its chairman, Win Bischoff, effective February 23. Bischoff took over as acting chief executive in November 2007 when Chuck Prince, former chairman and chief executive, resigned amid announcements of the bank's multi-billion dollar writedowns on credit products. Bischoff subsequently held the role of chairman from December 2007.

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