(FORTUNE Magazine) – The U.S.'s biggest bank may be having its problems, but no one can say it doesn't do a fine job of grooming executives -- for top positions at other financial institutions. Since 1984, a half-dozen high-ranking Citibankers have sought greater glory elsewhere. Thomas Theobald, who lost the CEO's job to John Reed in 1987, is probably the best known; he is now CEO of Continental Bank Corp. But there are also Lawrence Small, president and COO of Fannie Mae, and Richard Kovacevich, president and soon to be CEO of Norwest Corp. Another top Citi exec, President Richard Braddock, resigned from the bank in October. The latest to land a high-powered, albeit ticklish, position is Edward Harshfield, 55, recently named CEO of the banking operations of First City Bancorp. of Texas, which regulators closed down October 30. Harshfield's task is to sell off the businesses by March. He previously helped put out fires at Columbia Savings & Loan of Beverly Hills and Household International, the consumer loan company in Prospect Heights, Illinois (where he was succeeded as the No. 2 executive by Edwin Hoffman, another ex-Citibanker). Harshfield, who calls himself a troubleshooter, is getting plenty of trouble at First City. The Houston bank, which had assets of $8.8 billion, is the first major lender the FDIC has ever bailed out twice. In 1988 regulators stepped in with $970 million to help with Robert Abboud's takeover. But Abboud bet too heavily on a Texas turnaround and steered the bank into risky loans. By early last year it was sinking again.