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On Wall Street, Corbat isn't exactly a celebrity. But a common theme among those who follow Citigroup was that a leadership shakeup could be good, even if it raises questions about the bank's direction. Mike Mayo, a banking analyst for the financial firm CLSA, said he is keeping an "open mind," though he thinks an insider like Corbat could have a tough time overhauling Citigroup. "But having said that, the new CEO will likely want to put his own imprint on the organization," Mayo said, "and so we'll have to wait and see how he can improve what has been one of the worst cultures in banking for the last few years, and the last decade." After leaving Harvard with an economics degree in 1983, Corbat took a job at Salomon Brothers, working as a bond salesman in Atlanta. He later moved to managing director of emerging markets and derivatives. In 1998, Citigroup bought Salomon, the bond trading house at the center of Michael Lewis's book "Liar's Poker." Corbat has been involved in a variety of activities outside of finance. He's a board member for the Swedish American Chamber of Commerce in New York, which gave Corbat its Mentor Award for 2012. He's also on the board of EMI Music and the U.S. Ski and Snowboard Team Foundation. Corbat, a native of Bristol, Conn., is a trustee of the Salisbury School, an all-boys boarding school in Salisbury, Ct.
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