From the July-August 2009 issue of Treasury & Risk magazine


Citigroup, the New York City-based bank with $52.8 billion in revenue, has named John Gerspach CFO. Edward Kelly, the bank's finance chief since March, has been appointed vice chairman. Gerspach, 55, most recently was Citi's controller and chief accounting officer. Since signing on at Citi in 1990, he has served as CFO and chief administrative officer for various units of the bank. Before joining Citi, Gerspach was CFO of Penn Central Industry Group and comptroller for the defense contracting group at ITT Corp.

Cigna, the $19 billion health insurer, named Annmarie Hagan CFO and executive vice president. She succeeds Michael Bell, who is leaving to become CFO and senior vice president of Toronto-based Manulife Financial. Hagan, 48, has served as Philadelphia-based Cigna's chief accounting officer since 2001 and added the title of controller in 2008. She has worked in both the company's group disability and life insurance unit and in the property and casualty business. She began her career at KPMG and joined CIGNA in 1987.


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