Citigroup Announces Appointment of Douglas Peterson as Chief Auditor.Business Editors NEW YORK--(BUSINESS WIRE)--October 20, 2000 Citigroup today announced the appointment of Douglas L. Peterson as the company's Chief Auditor, effective immediately. He oversees a staff of more than 600 worldwide and reports to the Audit Committee of Citigroup's Board of Directors. Mr. Peterson previously was a Managing Director in the Audit and Risk Review organization, where he oversaw the merger of audit functions of Citigroup's predecessor companies and led the audit teams covering Global Capital Markets, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and the Travelers insurance businesses. "We are delighted to have Doug in this vital position, where he will be building on the accomplishments of Barbara Yastine," said Charles O. Prince III, Chief Administrative Officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive . "His primary role is to ensure that our company is well controlled and complies with all regulations and our policies worldwide. He also will be an important source of ideas for improving our business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets and transferring best practices across the company." Mr. Peterson joined Citibank's corporate bank in 1985 and worked as a relationship manager in Buenos Aires and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . He later served as Citibank's Country Corporate Officer in Costa Rica and Uruguay. Prior to joining Citigroup he was a member of the economics department at the Chevron Corporation. Mr. Peterson graduated from Claremont McKenna College A member of the Claremont Colleges, Claremont McKenna College is a small, highly selective, private coeducational, liberal arts college enrolling about 1100 students with a curricular emphasis on government, economics, and public policy. in 1980 with a B.A. in mathematics and history and from the Wharton School of the University of Pennsylvania The Wharton School is the business school of University of Pennsylvania in Philadelphia, Pennsylvania. It was established in 1881 through a donation of Joseph Wharton, making it the world’s oldest business school. in 1985 with an M.B.A., where he concentrated on international finance. Citigroup (NYSE NYSE See: New York Stock Exchange :C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in over 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, CitiFinancial, and Primerica under Citigroup's trademark red umbrella. Additional information may be found at: www.citigroup.com. |
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