Former Bank of Hawaii CEO Michael O\'Neill has been named chairman of Citigroup Inc. to replace University of Hawaii alumnus Richard Parsons, who is stepping down from that position after overseeing the company\'s recovery from near collapse in 2008. O\'Neill, 65, will take over after the firm\'s shareholder meeting in April, the New York-based bank said Friday in a statement. Parsons, 63, spent 16 years on the board, becoming chairman in 2009 after the bank\'s $45 billion bailout by U.S. taxpayers.