Citi Retail Partner Cards Strengthens and Expands Leadership Team

Today, Citi Retail Partner Cards announced an expanded leadership team, appointing two current senior leaders to new roles and announcing a new Chief Marketing Officer:

• Craig Vallorano has been named Executive Vice President, Business Development and Strategy
• Leslie McNamara has been named Executive Vice President, Partnership Management
• Elisabeth “Molly” McCombe has been named Chief Marketing Officer

Mr. Vallorano, Ms. McNamara and Ms. McCombe will all report directly to Bill Johnson, CEO of Citi Retail Partner Cards. Ms. McCombe was previously with HSBC.

Additionally, Rick Cunningham joins Citi Retail Partner Cards as Executive Vice President, Business Development. From GE, he will report to Mr. Vallorano.

“Since 2009, we have renewed and reinvested in our existing Partners, managed our portfolio through the credit cycle, and improved analytical and operating capabilities to optimize performance. Over the past eighteen months, we have renewed nearly a dozen partnerships. Today, as we aggressively pursue business growth, the time is right to expand and refocus our leadership talent. Craig, Leslie, Molly and Rick bring the industry experience, retail knowledge, operational expertise and vision to support the growth of our business,” said Bill Johnson, CEO, Citi Retail Partner Cards.

Craig Vallorano, widely recognized as a leader in the industry, will move into the newly created role of Business Development and Strategy with responsibility for new business, product development, competitive analysis, research and strategic planning. Vallorano, who joined Citi in 2000, has more than twenty-five years experience in the financial services industry. Previously, Vallorano led all Partnership Management activities for the business. Prior to Citi, Vallorano was Senior Vice President for Marketing and a member of the Executive Committee at Fleet Mortgage Group and spent 15 years with GE in a number of management roles.

Leslie McNamara will become Executive Vice President, Partner Management. Previously, McNamara served as Chief Marketing Officer with responsibility for centralized marketing strategy and planning. As CMO, she brought deep retail finance expertise to all Partners, created new vertical marketing competencies and achieved greater consistency, quality and control. McNamara, who joined Citi in 2002, led the Sears/Kmart portfolio from 2006-2009, introducing new customer underwriting and pricing that ensured program continuity and

success, and has held a number of positions in Partner Management, Marketing and Customer Engagement. Prior to Citi, she held roles at CoreStates Financial Corp, Mellon Bank, Qwest Interactive and Proctor & Gamble.

Elisabeth “Molly” McCombe joins Citi Retail Partner Cards as Chief Marketing Officer. Prior to joining Citi, McCombe served as Executive Vice President for Strategic Marketing Services at HSBC where she led all marketing functions. She was also responsible for all aspects of the organization’s online business. Prior to HSBC, McCombe was an Associate Principal in the Financial Institutions Practice at McKinsey & Company and held a number of commercial lending roles at FleetBoston.

Rick Cunningham joins Citi Retail Partner Cards as Executive Vice President, Business Development. Most recently, Cunningham was Senior Vice President for GE Corporate Lending in its Retail Finance division, where he led the Midwest region with responsibility for new business development through multiple channels, including hedge funds, consultants, private equity firms and direct prospecting efforts. With more than two decades of industry experience, he has held a number of business development roles at GE and HSBC.

“We have many of the longest standing, prominent retail and fuel partners in the industry,” added Johnson. “Expanding our leadership team enables us to focus on deepening those relationships and forging new partnerships to grow our business.”

Recently, Citi announced that Citi Retail Partner Cards will rejoin Citicorp as an autonomous division of North America Consumer Banking. While operating independently, Citi Retail Partner Cards and Citi Cards will continue to share processes that optimize performance and controls.

Citi Retail Partner Cards provides consumer and commercial credit card products and services, including private label credit cards, for national and regional retailers across the U.S. The business services nearly 90 million accounts and consists of managed assets of approximately $44 billion. Citi’s retail partners include Sears, The Home Depot, Macy’s, Shell, and ExxonMobil, among others.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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