Citi names former Bank of England official its new top economist

Citigroup Inc. on Monday named Willem Buiter, a London-based economics professor and author, as its new chief economist. Currently a professor at the London School of Economics, Buiter is a widely published author and blogger. He has worked as a consultant for Goldman Sachs since 2005. He served as chief economist for the European Bank for Reconstruction & Development between 2000 and 2005, advising governments in Central and Eastern Europe and the CIS. He has also worked with the Bank of England and other central banks, and advised the International Monetary Fund, the World Bank, the European Commission and other bodies. Citi said Buiter will work as a senior adviser on global economic issues across all of its businesses. Buiter will take the post in January, replacing Lewis Alexander, who left in March to become a counselor to Treasury Secretary Timothy Geithner. He had held the post since 2005. In midday trading, Citi shares added a penny to $4.07.