Corporate governance

Lawrence Weinbach will replace David Nelms, who had already stepped as CEO. The transition will take place Jan. 1.

The Alabama bank has named former power company executive Charles McCrary chairman instead of giving the job to new CEO John Turner.

Readers react to trends in public banking, weigh potential changes for brokered deposits, consider oversight of foreign banks and more.

The decision by Citigroup’s board to name an independent director as its next chairman — and not elevate CEO Michael Corbat to the post — is seen as good governance, but it’s also a sign that the company’s recovery from the financial crisis remains a work in progress.

John Dugan in January will succeed Mike O’Neill, who recently turned 72 and under Citigroup rules may not seek re-election to the board.