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BREAKING NEWS FROM CNBC’S KATE KELLY: CITI SECURITIES CHIEF FORESE INFORMALLY OFFERED COO

WHEN: Today, Friday, October 19, 2012

WHERE: CNBC's "Closing Bell"

Following is the unofficial transcript of breaking news from CNBC's Kate Kelly. All references must be sourced to CNBC.

Video: CNBC's Kelly: Citi's Forese Informally Offered COO

KATE KELLY: CONFUSION SEEMS TO BE RAINING AT CITIGROUP WHERE CEO VIKRAM PANDIT RESIGNED UNEXPECTEDLY EARLIER THIS WEEK. I'M TOLD THAT IN THAT WAKE, SECURITIES AND BANKING CHIEF JAMES FORESE WAS OFFERED THE NUMBER TWO SPOT, ONCE OCCUPIED BY JOHN HAVENS. THAT WOULD BE THE PRESIDENT AND COO ROLE. THIS HAPPENED IN AN INFORMAL CONVERSATION WITH BOARD MEMBERS RIGHT AFTER PANDIT RESIGNED I'M TOLD. BUT THE JOB IS NOT SOMETHING FORESE APPARENTLY WANTS TO PURSUE RIGHT NOW. AND NOW IT APPEARS THAT GLOBAL CONSUMER BANKING CHIEF MANUEL MEDINA-MORA MAY GET IT INSTEAD. AT THE SAME TIME, CITI IS CONSIDERING DOING AWAY WITH THAT POST ALTOGETHER – THAT PRESIDENT COO JOB. BUT NOBODY SEEMS IN A RUSH TO ORGANIZE THE MOVING PARTS.

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