The bank -- which said on Monday it was creating regional banking units as well as global credit card and consumer brand organizations -- is pursuing board members with expertise in finance and investments, the Journal said.
NEW YORK (Reuters) - Robert Rubin is not expected to resign as chair of Citigroup's <C.N> executive committee even as the company looks to restructure its board, the Wall Street Journal reported on Tuesday, citing a source familiar with the matter.
The bank -- which said on Monday it was creating regional banking units as well as global credit card and consumer brand organizations -- is pursuing board members with expertise in finance and investments, the Journal said.
The company is aiming to show it can grow amid expectations that losses will continue to mount due to bad bets on subprime mortgages.
The newspaper also said Chief Executive Vikram Pandit, who was named CEO in December, has encountered friction with certain directors over his plan to promote longtime ally John Havens to run the investment banking division, citing people familiar with the matter.
!ADVERTISEMENT!Representatives of Citigroup could not immediately be reached for comment.
The banking giant is undergoing a restructuring effort as it looks to shore up its balance sheet after mortgage-related writedowns led to a $9.83 billion quarterly loss.
(Reporting by Justin Grant)
