Marty Lippert arrived at Citigroup last year with a lot of expectation. We noted the new chief information officer was one of CEO Vikram's Pandit's most important hires. He was asked to transform the systems of a bank that was widely viewed as being off the leading edge. Most thought that preparing various units for sale was also a priority. So what to make of the news that Lippert has stepped down after less than nine months on the job?
A March 16th memo said Lippert left the ailing global giant to return home to Canada for "personal reasons." There may be a lot more to it than that. Does anyone have any insights they could post? At least the parting was amicable. Citi's CAO Don Callahan praised Lippert for "significant progress streamlining and integrating our global operations and technology, lowering O&T costs and increasing productivity across the company." A search for a new CIO is underway.
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