Jeffrey Applegate Appointed Chief Investment Officer for Citi Global Wealth Management



    NEW YORK, October 24 /CNW/ - Jeffrey Applegate has been appointed Chief
Investment Officer for Citi Global Wealth Management, based in New York.
Global Wealth Management (GWM) comprises three of the most respected brands in
wealth management: Citi Smith Barney, Citi Private Bank and Citi Investment
Research. Mr. Applegate will report directly to Sallie Krawcheck, Chairman &
Chief Executive Officer, Citi Global Wealth Management.

    As CIO, he will lead the GWM investment strategy team in efforts to drive
performance and returns in client portfolios. He will also partner closely
with Citi's Investment Strategy Committee to bring cutting edge techniques to
the GWM asset allocation process.

    Mr. Applegate is a seasoned investment professional with extensive
experience making active asset allocation decisions across global traditional,
alternative and absolute investment return asset classes. He brings an
outstanding track record and background, having served both buy-side and
sell-side investors in prior roles as Political Economist, Chief Investment
Strategist, Chief Executive Officer and Chief Investment Officer.

    "Jeff is a powerful thought leader and I am glad to welcome him to Citi.
I'm confident he and the team will do an exceptional job at leveraging Citi's
vast and deep intellectual capital resources to help drive performance for our
clients," said Sallie Krawcheck, Chairman and CEO of Citi's Global Wealth
Management business.

    Most recently, Mr. Applegate was with Franklin Templeton where he was
Chief Investment Officer for the global equity, fixed income, real estate and
alternative investments teams. Previously, he was Chief Investment Strategist
for Lehman Brothers and Credit Suisse First Boston. This new role marks a
return to Citi, as Mr. Applegate spent the first 18 years of his career with
Smith Barney as a political economist and later Chief Investment Strategist
for E.F. Hutton and President and Chief Executive Officer of Institutional
Asset Management for Shearson Lehman Hutton.

    Citi Global Wealth Management The Global Wealth Management division at
Citi comprises three of the most respected brands in wealth management: Citi
Private Bank, Citi Smith Barney and Citi Investment Research. Citi Global
Wealth Management is a top-tier global wealth manager providing some of the
best institutional capabilities available today. Serving both private and
institutional clients, Citi Global Wealth Management taps the strength and
resources of Citigroup to maximize value and service.

    Citi, the leading global financial services company, has some 200 million
customer accounts and does business in more than 100 countries, providing
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, and wealth management.
Major brand names under Citi's trademark red arc include Citibank,
CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional
information may be found at www.citigroup.com or www.citi.com.




For further information:

For further information: Citi Global Wealth Management Alex Samuelson,
212-783-2781 alexander.i.samuelson@citi.com

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CITI GLOBAL WEALTH MANAGEMENT

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