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Another Citigroup exec walks

NEW YORK, Aug. 23 (UPI) -- One of Citibank's top executives is following her boss out the door of the big New York financial house.

Marjorie Magner, head of Citigroup's consumer banking, plans to leave Oct. 1, the New York Times reported Tuesday.

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Less than a month ago the bank's No. 2 executive, Robert B. Willumstad, Magner's boss, announced he would leave in September. Magner said her decision to leave had nothing to do with Willumstad's move.

Chief executive Charles O. Prince dismissed concerns over management turnover.

"Every summer seems to be strange," Prince said. "These things go in cycles. We've had some change, but we have a deep bench. I think the place is in good hands."

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