Citigroup announced that Jerry A. Grundhofer, who was elected at Citi's 2009 Annual Meeting, will be the non-executive Chairman of the Board of Citibank, National Association (Las Vegas, NV) (Citibank, N.A.) and that two additional Citigroup outside directors, Michael E. O'Neill and Anthony M. Santomero, will be directors of Citibank, N.A. Mr. Grundhofer will replace Bill Rhodes, who will step down as Chairman and CEO of Citibank, N.A. as announced on July 9. Mr. Rhodes will be Senior Vice Chairman of Citibank, N.A. and will remain on its Board. As announced earlier, Mr. Rhodes will also continue to serve as Senior Vice Chairman of Citigroup, where he will focus more of his time on Citi's strategically vital international franchise. The Citibank N.A. Board will thus consist of five outside directors of Citigroup (Messrs. Grundhofer, O'Neill, Ricciardi, Ryan and Santomero) and two internal directors (Messrs. McQuade and Rhodes).

Citigroup Inc.'s global transaction services business, acting through Citibank, has been appointed by Iberdrola Renovables as the depositary bank for its American depositary receipt program. In making this appointment, Iberdrola Renovables has designated Citi as the sponsor of what had previously been an unsponsored American depositary receipt (ADR) program.

Citibank Bahrain's global consumer group and non-resident Indian wealth management divisions in co-operation with the American Life Insurance Company have launched a new annuity product, Income For Life. The bank said that the plan adds to the existing range of bancassurance products being offered by American Life Insurance Company via Citibank. Issued by ALICO and distributed by Citibank, Income For Life annuity plan offers clients income for a lifetime to help them meet their diverse financial needs such as retirement, child education as well as wealth creation, protection and savings. The plan provides a fixed regular income by investing in a range of investment funds, with each client's premiums allocated based on specific risk/return appetites.