Following earlier press reports that it was about to do so, Citi has officially announced that "Gary Crittenden, formerly Executive Vice President and Chief Financial Officer and head of Global Network Services at American Express, will become its Chief Financial Officer. He will report directly to Charles Prince, Chairman and Chief Executive Officer, effective March 12, 2007."   » Continue Reading

Zhang Fengming reports for ShanghaiDaily.com on the increasing volumes of bank card transactions in China as reported by China Unionpay, the country's sole bank card transaction system operator.

Eric Dash reports for the New York Times that Citigroup is expected shortly to name Gary Crittenden, currently CFO of American Express, as CFO of Citigroup.