Jeffrey Applegate Appointed Chief Investment Officer for Citi Global Wealth Management

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.