Citigroup set to hire ex-chief of World Bank

Citigroup already has a toe hold in more than 100 countries outside the United States, and its overseas operations contributed about 40 percent of its operating income in the first three quarters this year. But the fast-growing economies in Latin America, eastern Europe and Asia have become an increasingly important focus as places to expand its retail presence and take advantage of higher business investment returns. And both Wolfensohn and Zheng bring a Rolodex of worldwide political connections.

‘‘More of our growth over the 5 to 10 years will come internationally than nationally,’’ Charles O. Prince III, Citigroup’s chief executive, said in an interview. ‘‘Having their expertise as part of the team effort really gives us a leg up’’.

Wolfensohn has been serving as a special envoy to oversee the pullout of Jewish settlers from Gaza. He is expected to start his new job at Citigroup in two or three months. Zheng, who spent a decade at the World Bank directing operations in more than 140 developing countries, will join Citigroup in early 2006.

The Citigroup executive suite has long been home to globally minded leaders. Robert E. Rubin, the former Treasury secretary during the Clinton administration, is the chairman of its executive committee, and Stanley Fischer, the former managing director of the International Monetary Fund, was a Citigroup vice chairman until he was named the governor of Israel’s central bank earlier this year. Gerald R. Ford, the former president, is an honorary member of the board. —NYT