Citigroup Inc. Chairman Richard Parsons, who helped the bank become a behemoth that almost collapsed in the financial crisis and then led its recovery, will be replaced by fellow director Michael O’Neill.
Citigroup Inc. paid a hedge-fund manager with a doctorate in finance more than $200 million over five years to save the bank from the brink of collapse. Now it’s turning to a former Harvard football lineman to run it better.
American Express Co., the biggest credit-card issuer by purchases, will pay $112.5 million to settle claims it violated consumer safeguards from marketing to collection in products sold to about 250,000 customers.
The New York Yankees, using the 103rd overall pick, drafted University of Michigan outfielder Michael O’Neill, the nephew of former Major League Baseball player Paul O’Neill, who is now a YES television broadcaster for the team.