Citigroup investment bank chairman retires

NEW YORK, June 22: Citigroup Inc said on Friday that Ned Kelly, a former chief financial officer who went on to advise as chairman of the company's investment bank, is retiring. Kelly, 61, will be replaced by Stephen Volk, who joined the bank in 2004 and will continue to be a vice chairman of Citigroup, a spokeswoman said. A small group of senior client advisors, including Peter Orszag and Leon Kalvaria, who have been reporting to Kelly will report to Volk, she said. Also this month, Jeffrey Small, general counsel of the investment bank, will retire and be replaced Adam Meshel who is already at the company.

    — Reuters