Michael Louis Corbat is a flourishing American banker and the CEO of Citigroup. Born on May 1960 in Bristol, Connecticut, Corbat was always a high achiever. He loved participating in various activities and found a passion for golfing, downhill skiing, and fly fishing. Corbat pursued a bachelor’s degree in economics from the prestigious Harvard University where he also played offensive guard for the university’s football team. With his outstanding skills, Corbat became the first Harvard player to be selected for the Football All-America Team in NCAA Division I-AA in 1982. Corbat started his career at Salomon Brothers, a predecessor company of Citi.
He then later went on to become the Head of Citi’s Global Corporate Bank, Global Commercial Bank, and the chief executive officer of Citi’s Global Wealth Management. His tasks and responsibilities as a CEO were to handle the divestiture of a selection of non-core businesses and assets after the financial crisis of 2008 took place. He was also assigned the duty to take care of the company’s participation in Troubled Asset Relief Program.
Corbat gained more success and in 2011 advanced to the position of CEO in Europe, Middle East, and Africa where he looked after the company’s operations in every region. In October 2012, Corbat officially became the Chief Executive Officer of Citi after the resignation of Vikram Pandit. Corbat remained the CEO of Citi for a good 8 years and in September 2020, he stepped down and took the decision to retire. Apart from his time at Citi, Corbat also served on the EMI Board of Directors, British American Business Board of Directors and the U.S. Ski and Snowboard Team Foundation Board of Trustees.