Vikram Pandit

The Federal Deposit Insurance Corp. is pressing for a management shake-up at embattled bank Citigroup Inc., putting CEO Vikram Pandit in the hot seat, a report said Friday. The report from The Wall Street Journal cited people familiar with the matter. "We are confident in our management and confident that we will continue to position Citi for a return to sustained profitability," said Chairman Richard Parsons in a statement e-mailed to The Associated Press. A representative of the FDIC was not immediately available to comment. Citigroup has been one of the most troubled banks throughout the financial crisis. Investors have long criticized its board ... Read Full Story

Citigroup and Morgan Stanley said Monday they finalized a deal merging the worldwide brokerage operations of the banking giants ahead of schedule. The new venture called Morgan Stanley Smith Barney combines Morgan Stanley's Global Wealth Management Group with Citi's Smith Barney in the United States. It also includes British-based Quilter and Smith Barney Australia retail units. The new firm will have some 18,500 brokers and advisors worldwide along with 6.8 million client households and roughtly 14 billion dollars in revenues. "Morgan Stanley Smith Barney perfectly complements Morgan Stanley's traditional leadership position in the global institutional markets," said John Mack, chairman and chief executive of ... Read Full Story

Report: FDIC pushing for shake-up at Citigroup - The Associated Press Boston Globe Report: FDIC pushing for shake-up at Citigroup The Associated Press NEW YORK (AP) — The Federal Deposit Insurance Corp. is pressing for a management shake-up at embattled bank Citigroup Inc., putting CEO Vikram Pandit in the hot seat, a report said Friday. The report from The Wall Street Journal cited people familiar … FDIC Pushes Purge at Citi Wall Street Journal FDIC Pushes for Citi Management Shakeup FOXBusiness Could Citi CEO Be Shown the Door? Reuters Business Standard  - SmartBrief all 175 news articles Read Full Story

Pandit Says Citigroup Having Best Quarter Since 2007 (Update2) March 10 (Bloomberg) -- Citigroup Inc. Chief Executive Officer Vikram Pandit said his bank is having the best quarter since 2007, when it last posted a profit. The shares rose as much as 27 percent and helped spur gains for finance company stocks. “I am most encouraged with the strength of our business so far in 2009,” Pandit wrote in an internal memorandum obtained today by Bloomberg. “In fact, we are profitable through the first two months of 2009 and are having our best quarter-to-date performance since the third quarter of 2007.” Citigroup has logged ... Read Full Story

Mar 20 By Chuck · 7:23 p.m. March 20 ·   Print This Post · The CEO’s of Citgroup, Bank of America, and JP Morgan have all chimed in on the recent action to curtail bonuses at companies that are operating with tax payer funds. Vikram Pandit, Citigroup CEO Vikram Pandit (CEO, Citigroup) and Ken Lewis (CEO, Bank of America) issued memos to their employees today stating that the recent bill passed by Congress will make it hard for them to ‘ retain their talent ‘. I am very tired of hearing about bonuses being needed in order to retain their employees. The CEO’s ... Read Full Story