Update: At 5 p.m., Citigroup announced Robert Druskin was named chief operating officer. He was the president and CEO of Citigroup's Global Corporate and Investment Banking Group. Despite rumors of her leaving, CFO Sally Krawcheck will stay. So will CEO Charles Prince. (Read the story here)
Citigroup – America’s largest bank – is trading at a new 52-week high for the second day in a row. Speculation continues about a shake-up in management, which is just what investors are begging for. CEO Charles Prince has failed to deliver, they say. The stock is stuck at $50, and there doesn’t seem to be any viable growth strategy in place. Maria Bartiromo had Jim Huguet of Great Companies and William Lefkowitz of VFinance Investments on “Closing Bell” today, and both analysts agreed – it’s time to either break up the company or find new management.