In the wake of mounting write-offs in the bank’s Securities and Lending Division, Charles Prince, Citigroup’s Chairman and Chief Executive Officer, has resigned from the firm as of November 4th. On a temporary basis, former U.S. Treasury Secretary Robert Rubin, a current Senior Vice Chairman and Citigroup Board Member, will serve as Chairman of the Board. Sir Win Bischoff, the head of Citigroup’s European Operations, will act as interim CEO.

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