Vikram Pandit

Vikram Pandit

Citigroup Inc. named former Morgan Stanley President Vikram Pandit as chief executive officer to help the largest US bank recover from serious financial problems.

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Citi raises salaries for CFO, global markets head

From:   www.ap.org
Citigroup says its chief financial officer and co-head of global markets are getting raises, while CEO Vikram Pandit will continue to collect a salary of $1 per year. Citi, based in New York, faces restrictions on executive compensation because it has received $45 billion in government bailout money after the peak of the credit crisis last fall. Salary caps for top executives were recently set for Citi and six other companies that received big bailouts. The company says CFO John Gerspach's salary was increased to $500,000 from $400,000. James Forese, co-head of global markets, will now make $475,000, more than double the $225,000 he ... Read Full Story

Citi rejects Terra Firma's latest bid to save EMI: report

(Reuters) - Citigroup Inc <C.N> recently rejected a proposal from Guy Hands' private equity firm Terra Firma Capital Partners to restructure the debt of music group EMI <LNDONE.UL>, the Wall Street Journal said on Monday. The buyout firm had offered to inject about 1 billion pounds ($1.67 billion) into EMI in exchange for Citigroup waving a similar proportion of its 2.6 billion pounds of EMI loans, the paper said, citing people familiar with the matter. Citigroup would have had to write off more debt than it was comfortable with, the paper said, citing one of the people. Citigroup and Terra Firma could not immediately ... Read Full Story

VIKRAM PANDIT ON THE RECORD

VIKRAM PANDIT ON THE RECORD Citigroup, which has been at the epicenter of the financial crisis, is one of the best-performing U.S. stocks since March. But CEO Vikram Pandit's fix-it job is far from complete. Citi's shares remain 90% off their high in 2006. Its books are still loaded with risky assets. And the economy faces headwinds. Pandit sat down to talk with BusinessWeek Editor-in-Chief Stephen J. Adler on Sept. 17 as part of the Captains of Industry series at the 92nd Street Y in Manhattan. Here are some excerpts of their conversation: STEVE ADLER What's it like to have the government owning 34% ... Read Full Story

Earnings Preview: Citigroup Inc.

From:   www.ap.org
Citigroup Inc. reports results for its third quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: Citigroup has been among the banks hardest hit by the credit crisis and recession. It has received $45 billion in loans from the U.S. government — a portion of which was converted to a 34 percent ownership stake — and guarantees to protect against losses on more than $300 billion in risky assets. The New York-based bank is also reportedly in talks with the U.S. government to reduce its stake in the bank. Citigroup, like other national banks, ... Read Full Story

Credit losses hit Citigroup earnings

NEW YORK (Reuters) - Citigroup Inc <C.N> posted a quarterly loss to shareholders as it suffered $8 billion of credit losses, raising further questions about the future of the bank that is one-third owned by the U.S. government. Citigroup, which has posted more than $100 billion of writedowns and consumer credit losses since the credit crisis began, posted a third-quarter net loss to shareholders of $3.2 billion, or 27 cents a share, compared with a loss of $2.9 billion, or 61 cents a share, in the third quarter last year. Chief Executive Vikram Pandit has struggled to fix a bank formed through decades of ... Read Full Story
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Vikram Pandit Tells DC Ethnic Media: Citigroup is Committed
Citigroup CEO Vikram Pandit told the capital city's ethnic media that he is committed to restoring his corporation's standing globally and locally, and to aiding Americans hit by the mortgage foreclosure crisis.  
From news.newamericamedia.org ()
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Citigroup CEO Pandit vows Boston growth
Citigroup Inc. (NYSE: C) Chief Executive Vikram Pandit said Wednesday the bank is committed to staying in Boston and vowed to bolster its presence here. “There are many more clients we can serv...  
From story.malaysiasun.com ()
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Zacks Analyst Blog Highlights: Citigroup Inc., Intuit Inc., ENI S.p.A...
Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Citigroup ...  
From search.msn.com ()
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Citi boosts base salaries for some senior employees
NEW YORK (Reuters) - Citigroup Inc said on Tuesday it boosted the base salaries for its chief financial officer and a global markets co-head, but has left Chief Executive Vikram Pandit's salary unchanged.  
From reuters.com ()
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Citigroup Eyes ACORN Investment: Awaits Probe
Citigroup (NYSE:C) CEO Vikram Pandit isn't ruling out reinvesting in scandal-plagued ACORN, the left-wing community group whose employees were caught on a hidden camera earlier this year allegedly giving advice on how to set up a prostitution ring without getting nabbed by the IRS....  
From hispanicbusiness.com ()
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Citigroup reports success with foreclosure prevention | Mound City ...
As the previous post mentions, Citigroup CEO Vikram Pandit was in town yesterday to speak at Washington University. He also visited with employees of the CitiMortgage division in O'Fallon, Mo., and announced some updated results for the ...  
From blogsearch.google.com ()
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Brazil Finance Minister Denies Knowledge Of Citibank Offer >C
Brazil Finance Minister Denies Knowledge Of Citibank Offer >CWall Street JournalBRASILIA (Dow Jones)--Brazil Finance Minister Guido Mantega said Tuesday he knew nothing about an offer by Citigroup Inc. (C) to sell a stake at the height ...Brazil's Mantega Denies Citigroup Offered StakeBloombergUPDATE 3-Brazil renews tax breaks for "green" vehiclesReutersBrazil Extends Tax Cut on Some Vehicles to Spur SalesBloombergall 43 news articles »  
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