Smith Barney talks reported ; Robeter Rubin has resigned as Citigruop adviser. FORMER U.S. Treasury Secretary, Robert Rubin has resigned as senior adviser to the beleaguered Citigroup Friday. Robert Rubin as Citigroup recommends it lost 20 billion dollars in sub financial crisis and the calculation was his position as senior adviser and will not stand for reelection to the board.
The bank says Rubin will continue to serve as director until his term expires at the next annual general meeting in spring. He has drawn criticism for his role in the bank's recent problems that led it to seek federal assistance. Separate, Citigroup is reportedly in talks with another bank, Morgan Stanley, to merge its asset management business with Smith Barney Morgan Stanley's.
Rubin was an adviser in Citigroup, and Chairman of the Bank for approximately a month after the new elected former president and CEO Charles Prince in November 2007. Shares in banking giant fell 5.7% dropping 41 cents to $ 6.75. Rubin, U.S. Treasury Secretary under President Bill Clinton. As Citigroup's stock plunged last year. Read More Information Click Here
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