Most people assume regulators are behind the really big moves at Citi--like last week's executive suite shake-up. Now comes news that the board is being tinkered with as well; which many will see as good news.

The Financial Times reports that Jerry Grundhofer, former chief of US Bancorp, is set to play a more prominent role. He might become chair of Citi's audit and risk committee and Citibank North America, its domestic banking division. The role of the FDIC in all this is being debated. Grundhofer is held in high esteem by regulators reportedly. Grundhofer is one of five new directors Citi has added over the past year. It aims to hire three more. We'll see how all this pans out.

For more:
- here's the article

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