The former top executive at Citigroup's wealth management division Todd Thomson said tensions with now departed chief executive Charles Prince were the underlying cause for his departure from the firm in January.

There was a very significant rift between me and the now ex-CEO ... To be clear, there was nothing I did at the company that was in any way untoward, Thomson told Reuters on Tuesday.

At the time, Citi said that Thomson had left the company to pursue other interests. However press reports in the Wall Street Journal and New York Times said he was booted from the firm amid charges that he was spending company funds extravagantly.

I was the only business that had expense growth less than revenue growth. I was Sandy (Weill)'s CFO for four-and-a-half years. You think I somehow lost my cost management capabilities? This is insane, Thomson said.