July 10, 2009

In decades spent working at some of America's best-known financial institutions, Eugene McQuade developed a reputation as a "Mr. Fix-It," investment managers, industry analysts and a former boss said on Thursday.And that may be exactly what Citigroup Inc now needs from McQuade, 60, who has held top-level executive jobs at Merrill Lynch, Freddie Mac, FleetBoston Financial and Bank of America.

McQuade was installed on Thursday as Citi's new banking chief in a major management shake-up that included replacement of the company's chief financial officer.The native New Yorker, who joined a bank training program right out of college, came of age professionally during the real estate crisis of the early 1990s, said Terrence Murray a former chief executive officer at FleetBoston.