Citi Holdings, the business created after US financial services giantCiti was split into two divisions, is still looking for a chief executive, according to a memo distributed to staff and seen by WealthBriefing.

The memo stated that Mark Corbat, who most recently served as the CEO of Citi's Global Wealth Management unit before the split, would serve as the interim chief executive of Citi Holdings, the business that contains Citi’s brokerage and asset management, local consumer, and a special asset pool business.

Mr Corbat was also named as the head of the brokerage and asset management unit within Citi Holdings.

The announcement that Citi would be split into two – Citi Holdings and Citicorp – was made on 16 January after continued downward pressure on the company’s share price following heavy losses and the spin-off of its brokerage business in a joint venture with Morgan Stanley.

Citi chief executive Vikram Pandit, who presented Citi's 2009 Financial Services Conference, announced to staff some of the leadership that will take charge in its newly restructured business units.

The memo stated Mr Corbat would be interim CEO of Citi Holdings and head of the brokerage and asset management unit of Citi Holdings.

Steve Freiberg was named head of the Consumer Businesses within Citi Holdings; he was most recently chief executive of the Global Cards business.

Rick Stuckey was named  head of the Special Asset Pool business, a new position which includes managing the assets including those covered by the loss-sharing agreement with the US government parties in the ring-fenced portfolio.

Within Citicorp the firm also named John Havens, previously CEO of the Institutional Clients Group and chairman and chief executive of Citi Alternative Investments, head  of Citicorp’s Global Institutional Bank.

“We've made great progress but we still have much work to do. I thank you for all that you have done, and will do, as we get Citi back on the path to profitability,” Mr Pandit stated in the memo.

“There is nothing that is in the owner’s manual on what we are going through here. We are going through unprecedented times,” he said at Citi’s investor conference.