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Citigroup HR Head Says Senior-Level Talent Management Process Will Soon Include All Employees

April 28, 2009
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Citigroup HR head Paul McKinnon told employees the bank would broaden its senior-level talent management process to include employees throughout the company.

In a one-page memo dated Friday, April 24, CEO Vikram Pandit and McKinnon cited recent senior-level promotions as examples of how the company has renewed its ability to identify leaders and develop succession plans.

The memo said Citi had updated its global talent and performance management system.

“This year, we want to continue to broaden and deepen our focus on talent at Citi by better identifying growth and development opportunities, and providing developmental feedback to employees to enhance their careers,” according to the memo.

At the end of the first quarter, Citigroup had 309,000 employees, down from 369,000 a year earlier.

In recent weeks, Pandit has promoted executives he worked with at Morgan Stanley and Old Lane, the hedge fund he helped found that later was acquired by Citi.

Earlier this month, Pandit named Edward J. Kelly as CFO, replacing Gary Crittendon, who was named chairman of Citi Holdings Inc., a company created to include the financial services firm’s noncore businesses.

The company intends to sell or find a joint-venture partner to run Citi Holdings. Crittendon became CFO in 2007.

Last year, Citi hired Paul McKinnon, a former senior vice president for human resources at Dell, to be the company’s first-ever chief talent officer. By November, with the financial crisis in full swing, McKinnon replaced Citi’s longtime head of HR, John Donnelly.

—Jeremy Smerd

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