As the No. 2 executive at the holding company for what became Citibank helped propel the bank to the top of the industry. He worked under Walter B. Wriston. Mr. Spencer was president of the First National City Corporation, which evolved into Citicorp and then Citigroup, and its bank, First National City Bank, now Citibank, from 1970 to 1982. He graduated from Colorado College in 1939. His charitable involvement was broad, including leading a campaign to reorganize the New York City blood bank. Mr. Spencer's first wife, the former Kathryn Cope, died in 1992. He is survived by his wife, Susan Hammel-Namm; a stepson, Adam Namm of Arlington, Va.; a stepdaughter, Leslie Coplin of Larchmont; and two granddaughters.