John Havens
Encyclopedia
John P. Havens is president and chief operating officer
of Citigroup
.
Havens graduated from Harvard University
in 1979 and his first job was trader of convertible securities at Kidder Peabody.
He joined Morgan Stanley
in 1986 as a principal in Institutional Equity. where he struck up a personal and business relationship with Vikram Pandit
where the two rose through the ranks until he and Pandit left after being passed over by Philip J. Purcell
in 2005. The two formed Old Lane LP which was in turn was bought by Citigroup in 2007 for $800 million.
At Morgan he was a managing director and Global Head of Institutional Equity Division from September 2000 to March 30, 2005.
At Citi he was the highest paid official in 2009 and 2010 when he was paid more than $9 million/year at a time when Pandit was making only $1/year as Citi was dealing with bringing the company out of near collapse and was subsidized by $20 billion in Troubled Asset Relief Program funds. In January 2011, he became president and COO a month after Citi paid back its TARP loans. The position had been vacant since 2007.
Prior to his promotion he was Chief Executive Officer of Institutional Client Group of The Citigroup Private Bank.
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
of Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
.
Havens graduated from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
in 1979 and his first job was trader of convertible securities at Kidder Peabody.
He joined Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
in 1986 as a principal in Institutional Equity. where he struck up a personal and business relationship with Vikram Pandit
Vikram Pandit
Vikram S. Pandit is an Indian-born American business executive. He is the current CEO of Citigroup.-Early life:Vikram Pandit was born in Nagpur, India to an affluent Marathi family . His father, S B Pandit was an executive director at Sarabhai Chemicals in Baroda. He completed his schooling at the...
where the two rose through the ranks until he and Pandit left after being passed over by Philip J. Purcell
Philip J. Purcell
Philip J. Purcell was the former Chairman and CEO of Morgan Stanley in the late 1990s and 2000s. He previously served as Chairman and CEO of Dean Witter and managed the firm under its ownership by Sears, Roebuck & Co....
in 2005. The two formed Old Lane LP which was in turn was bought by Citigroup in 2007 for $800 million.
At Morgan he was a managing director and Global Head of Institutional Equity Division from September 2000 to March 30, 2005.
At Citi he was the highest paid official in 2009 and 2010 when he was paid more than $9 million/year at a time when Pandit was making only $1/year as Citi was dealing with bringing the company out of near collapse and was subsidized by $20 billion in Troubled Asset Relief Program funds. In January 2011, he became president and COO a month after Citi paid back its TARP loans. The position had been vacant since 2007.
Prior to his promotion he was Chief Executive Officer of Institutional Client Group of The Citigroup Private Bank.