Citigroup has got timely capital infusion. As they say great companies raise capital all the time and this may certainly give investors some confidence that the management is making its first steps in the right direction. Though there could be a lot of cleaning required, the foremost important decision for the board is to appoint the next CEO for the group.

Forbes.com reports

Citigroup is still in search of a chief executive, but it has found an angel.

The Abu Dhabi Investment Authority is sinking $7.5 billion into the largest U.S. bank, shoring up its capital after billions in write-offs related to subprime mortgages.

The state investment fund will receive securities that will be convertible into no more than a 4.9% stake in Citi, the financial services giant said Monday night. It is a sizeable investment at a time when many investors and pundits are calling for major changes at Citigroup , including a possible breakup of the company.

One of Citi’s largest individual shareholders, Saudi Arabia’s Prince Alwaleed bin Talal, who is said to hold about a 4% stake, has pressed for tighter cost controls at the company since last year. Chief Executive Charles Prince quit earlier this month as Citi faced another $10 billion to $13 billion of additional write-downs in mortgage security holdings and after losing the confidence of the board and major shareholders.