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Citigroup's Reed to retire

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New York--John Reed, co-CEO of Citigroup, the world's largest bank, will retire in April. Mr. Reed, a 35-year Citigroup veteran and financial services luminary, oversees the bank's Internet operations. Sandy Weill, Citigroup's other co-CEO, will assume Mr. Reed's responsibilities and become the sole CEO. Messrs.®MDSU¯®MDNM¯ Reed and Weill have clashed before, but it is not evident what prompted Mr. Reed's departure.
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