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Citigroup (C) shareholders (and Mike Corbat) might want to say a thank you to departed CEO...

Citigroup (C) shareholders (and Mike Corbat) might want to say a thank you to departed CEO Vikram Pandit and his team as a number of costly hires of rainmakers nearly 3 years ago is paying big dividends now. Investment banking revenue rose 84% to $204M in Q1, with CFO John Gerspach noting prior decisions to rebuild the energy, healthcare, and technology teams.
Comments (3)
  • benitus
    , contributor
    Comments (1911) | Send Message
     
    Looks like somebody may yet recognize the contributions made by Pandit to Citi's recovery. Certainly hope that Michael would take a cue from these results and stop shrinking Citi's overseas presence but instead, support and strengthen wherever possible because foreigners have more faith in Citi than its European competitors, except for Hongkong where HSBC and Stanchart are entrenched.
    17 Apr 2013, 07:34 AM Reply Like
  • airbossnj
    , contributor
    Comments (22) | Send Message
     
    I certainly agree and further would welcome Pandit back > I think the Board over-reacted.
    17 Apr 2013, 10:16 AM Reply Like
  • Chancer
    , contributor
    Comments (2631) | Send Message
     
    C board was right to dump Pandit. BAC needs to consider same.
    17 Apr 2013, 10:45 AM Reply Like
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