Does anyone want to be CEO of Citi (C)? If so, speak up. Josef Ackerman of Deutsche Bank (DB) is the latest high-profile banking executive to shy away from taking the top job at the financial titan, according to reports in Bloomberg and the FT. Other top financial execs who have indicated they aren’t interested include U.S. Treasury Secretary Hank Paulson and former Wells Fargo chief Dick Kovacevich, the FT reported.

It’s easy to see why people aren’t exactly rushing to get in line for interviews with Citi’s executive search committee. The bank has already been rocked by multibillion-dollar writedowns on its holdings of toxic mortgage-related securities called collateralized debt obligations. It was the announcement last month that Citi would take a hit as large as $11 billion that finally led to former CEO Chuck Prince’s resignation, after investors spent months calling for his scalp.


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Submitted: Dec 5, 2007    Views: 226    Comments: 0    Likes: 1   


View Article: http://dailybriefing.blogs.fortune.cnn.com/2007/12/05/who-wants-to-...


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