Bloomberg News

Citigroup President Havens Sells $3.52 Million of Stock

October 28, 2011

(Updates with reason for the sale, share performance starting in the second paragraph.)

Oct. 28 (Bloomberg) -- John Havens, Citigroup Inc.’s president and chief operating officer, sold $3.52 million of the New York-based bank’s stock, according to a regulatory filing.

Havens sold 60,000 shares at an average price of $30.41 on Oct. 26, and 50,000 shares at $33.90 a day later, according to the filing with the U.S. Securities and Exchange Commission. The sale was done for tax-planning purposes, spokeswoman Danielle Romero-Apsilos said in an e-mail. Havens held more than 334,000 shares after the transactions, the filing shows.

Citigroup fell 1 cent to $34.16 in New York trading. The lender, ranked third by assets in the U.S., is down 28 percent this year, compared with the 20 percent drop for the 24-company KBW Bank Index.

--Editors: Rick Green, William Ahearn

To contact the reporter on this story: Dakin Campbell in San Francisco at dcampbell27@bloomberg.net

To contact the editor responsible for this story: David Scheer in New York at dscheer@bloomberg.net


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