A former chief executive of Citigroup's wealth management division and one-time potential successor to the bank's former chief Chuck Prince has said the firm needs to install better leaders within top management rather than break up the various businesses.

Todd Thomson, who quit Citigroup in January this year, told delegates at a Reuters Finance Summit in New York yesterday that he has the necessary skills to run the beleaguered bank in the aftermath of Prince's departure as chief executive on Sunday.