Citigroup Names Co-Chief Executives of Primerica Finance Marketing Unit
Domis, Olaf De Senerpont, American Banker
Citigroup Inc. said Wednesday that John A. Addison Jr. and D. Richard Williams have been named co-chief executive officers of Primerica, the company's consumer finance marketing unit.
The two executives retain their current titles: Mr. Addison as president and Mr. Williams as chief operating and financial officer. They will continue to report to Joseph J. Plumeri 2d, chairman of Primerica and the head of Citigroup's North American branch network.
The appointment will allow Mr. Plumeri to dedicate more time to running the retail bank, he said.
"My extreme confidence in their abilities allows me the opportunity to principally focus on my newer role as head of Citibanking," he added.
Observers were not surprised by the announcement. They said Mr. Plumeri has his hands full looking after the retail operations of $690 billion-asset Citigroup.
"One presumes he was pretty busy when he was just running Primerica," said David S. Berry, research director at Keefe, Bruyette & Woods Inc. in New York. "Now that he's also been put in charge of retail and electronic banking for Citi, he's really busy."
Primerica, which is based in Atlanta and serves more than 3. …