Citigroup has announced that Charles Prince, Chairman and Chief Executive Officer, has elected to retire from Citi. Robert E. Rubin, Chairman of the Executive Committee of Citi and a member of the Board of Directors, will serve as Chairman of the Board. Sir Win Bischoff, Chairman of Citi Europe and a member of Citi's Business Heads, Operating and Management Committees, will serve as acting Chief Executive Officer.

In an article subtitled "Some Spenders Think They Have the Discipline to Play the Risky Rewards Game", Nancy Trejos writes for the Washington Post about how some careful consumers are maximizing their rewards from credit cards. Their secret? It's actually quite simple: "If you're a revolver, don't bother with a rewards card."

The October issue of the First Annapolis Navigator is now available. This month's feature article is "The Current State of Debit Rewards" By Josh Gilbert and Ryan Feeley. Other articles include: "A Gift Card Outlook: An Interview with Bob Skiba, General Manager of Comdata Stored Value", "Payments Industry May Meet Headwinds as Business Bankruptcies Spike" and a "Q3 2007 Credit Card Issuer Performance Snapshot".