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Citi names pair of executives to board

NEW YORK (AP) -- Citi said Monday that its board elected Gary Reiner and James Turley as new independent directors.

Reiner has served as the operating partner at General Atlantic LLC since 2010 and before that was senior vice president and chief information officer of General Electric Co.

Turley is the former chairman and CEO of Ernst & Young. He joined the firm in 1977 and led it from 2001 until his recent retirement.

Both men also will join the board of Citibank NA.

Non-employee directors receive an annual cash retainer of $75,000 and a deferred stock award valued at $150,000, according to regulatory filings.

Shares of New York-based Citigroup Inc. rose 58 cents to $49.11 in morning trading.