Citigroup Inc. is shuffling management as its divides into two standalone businesses. Citicorp's global bank will have two operations: Institutional banking and regional consumer banking. Citi Holdings will have three main businesses: brokerage and asset management, local consumer and a "special asset pool."

John Havens (pictured) will lead the global institutional bank. He was CEO of the institutional clients group and chairman and CEO of Citi Alternative Investments. The heads of the regional consumer and commercial banking franchises will stay in place and assume responsibility for the credit card businesses in their regions.

They are: Terri Dial, global head of consumer strategy and CEO of consumer banking in North America; George Awad, leader of the North America credit card business, reporting to Dial; Ed Eger, global card coordinator, reporting to Dial; Ajay Banga, CEO of Asia-Pacific; Manuel Medina-Mora, CEO, Latin America and Mexico; William Mills, CEO, Western Europe, Middle East and Africa; and Shirish Apte, CEO, Central and Eastern Europe.

Mike Corbat will serve as interim CEO of Citi Holdings. He will also be head of its brokerage and asset management unit. Corbat was CEO of Citi's global wealth management unit, replacing Sallie Krawcheck in 2008. Steve Freiberg will oversee the consumer businesses. Most recently, he was CEO of global cards. From 2005 until March, Freiberg was chair and CEO of Citigroup's Global Consumer Group NA and co-chair of the global consumer group. Rick Stuckey will run the special asset pool, managing assets including those covered by the loss-sharing agreement with the U.S. government. Stuckey joined Citi in November 2007 as head of its subprime unit.

3i Group plc CEO Philip Yea is leaving the private equity firm as it reports an over 20% loss on its 50 biggest investments in the previous quarter. Michael Queen, who joined 3i in 1987, will take the chief role.

In July 2004, Yea (pictured left) was a managing director at Investcorp, where he focused on the performance of portfolio investments. He joined Investcorp in 1999 from Diageo plc. Yea spent six years as group finance director, both at Guinness and then at Diageo after Guiness's merger with Grand Metropolitan plc in 1997. Queen (right) became managing partner of the infrastructure business line in 2007 after several years as global head of growth capital. In 1994, he was seconded to the HM Treasury for two years.

Morgan Stanley's chief equities strategist, Abhijit Chakrabortti, left the firm.

New York-based Chakrabortti joined Morgan Stanley from J.P. Morgan Chase & Co. a year and a half ago.

Jefferies & Co. hired Hal Kennedy and Leon Szlezinger as managing directors for its recapitalization and restructuring group in the investment banking division. They reside in New York. Kennedy arrives from Credit Suisse Group and predecessor firm Donaldson, Lufkin & Jenrette Inc., where he spent 19 years focused on restructuring and distressed finance. Szlezinger comes in from Mesirow Financial Consulting LLC, where he was a senior managing director. Before that, he was a principal in the corporate recovery group at KPMG LLP.

Separately, Jefferies International Ltd., the U.K. subsidiary of U.S.-based Jefferies Group Inc., expanded its global healthcare equities practice with seven research and sales professionals in London. James Dodwell, Jeffrey Holford and Ian Hilliker join as pharma analysts; Peter Welford, Philippa Gardner and Tara Shivarattan cover biotechnology, biopharmaceuticals and life sciences. Thomas Bedford joins as a healthcare specialist salesman from Credit Suisse.

Dodwell and Holford were co-heads of the pharma research team at Credit Suisse. Hilliker also worked on that team. Welford was a biotechnology analyst at Lehman Brothers Holdings Inc. Gardner and Shivarattan were equity research associates at Lehman.

Broker-dealer Broadpoint Capital Inc. expanded its mortgage- and asset-backed securities trading division, Broadpoint Descap, by launching a repurchase desk and expanding its structured products group with five people. Joanmarie Pusateri, who spent 22 years at Bear, Stearns & Co., will lead the repurchase desk, focusing on fixed income trade settlements.

In structured products, P. Read Burns Jr. arrives after 13 years with Lehman Brothers Holdings Inc., while Michael Petrucelli spent 15 years there. Jisook Choi spent 11 years at Bear Stearns. James Hurst was a director at Barclays Capital in Boston and was at Lehman for 13 years before that. John Rozario has worked at Merrill Lynch & Co. and CIBC World Markets Inc.

Private equity firm First Reserve Corp., which concentrates on the energy industry, promoted Christopher Ortega to director. Before joining the firm in 2007, Ortega was a vice president at Greenhill Capital Partners LLC and worked in the mergers and acquisitions group at Lazard.

TSG Consumer Partners LLC, investing in branded consumer products companies, named Pierre LeComte a managing director.

Brian Krumrei and Robyn Rutledge were promoted to principals, and Jenny Baxter was named a vice president.