Inevitable government cutbacks followed, and Sukemi's boss was told there would be no new overseas posting.

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Corbat has worked at Citigroup since graduating from Harvard in 1983, and before his overseas posting, Corbat led Citi Holdings, overseeing the divestiture of more than 40 businesses.

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After posting a 4.3% loss on its overseas portfolio in 2011, the fund earned a 10.6% return on the portfolio last year, which came in a year when global markets were broadly higher.

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