Vikram pandit

Who backed out of the '09 World Economic Forum?

Prominent executives have stepped away from attendance at the World Economic Forum 2009 in Davos, Switzerland which kicks off Wednesday, citing illness, the need to deal with pressing matters, or just avoiding the spotlight under tough economic circumstances.

Citigroup loses $8 billion, shakes up structure

Citigroup Inc lost $8.29 billion in its latest quarter, marking five straight quarters of losses as it unveiled a restructuring plan that divides the company into two major units. Investors were pleased with the news, sending shares up 9.7 percent in pre-market trading on Friday.

Citigroup CEO gets $26.7 mln stock, 3 mln options

Citigroup Inc awarded Chief Executive Vikram Pandit $26.7 million of shares and 3 million stock options, six weeks after he took over the largest U.S. bank, and a week after reporting a record $9.83 billion quarterly loss.

Citigroup's Record Loss Forces $18 Bln Writedown

Citigroup Inc., the nation's largest bank by assets, reported the company's biggest quarterly loss and slashed dividends on Tuesday as loan defaults in recent quarters forced it to write down the value of subprime-mortgage investments by $18 billion.

Citigroup, Merrill in Talks for Foreign Capital: Report

Citigroup, Inc. and Merrill Lynch & Co., U.S. banks which have seen heavy losses due to bad bets on the mortgage market, are in discussions to get up to $10 billion and $4 billion in capital respectively primarily from foreign governments, according to a report on Wednesday.

Citigroup's Top CEO Option is Vikram Pandit: Report

The leading internal candidate to fill the vacant CEO position at Citigroup is Vikram Pandit, the head of the bank’s investment banking division, but no final decision has been made according to reports on Monday.

Citigroup may face $11 billion writeoff

Charles Prince resigned on Sunday as chairman and chief executive of Citigroup Inc, as the bank said it may write off $11 billion of subprime mortgage losses, on top of a $6.5 billion write-down last quarter. Robert Rubin, the former U.S. Treasury Secretary who had chaired Citigroup's executive committee, was named chairman, while Sir Win Bischoff, who runs Citigroup's European operations, was named acting chief executive.

Citigroup CEO Prince to resign: reports

Citigroup Inc Chief Executive Charles Prince plans to resign this weekend, the Wall Street Journal said, as the widening subprime mortgage crisis deals a final blow to a reign long under attack. The largest U.S. bank by assets plans to hold an emergency board meeting on Sunday, at which Prince will step down, the newspaper said on Friday, citing people familiar with the situation.

Citigroup shakes up management

Citigroup Inc, which last week forecast 60 percent declines in third-quarter earnings amid bad debt losses, said it was promoting Vikram Pandit to head banking, markets, and alternative investments, and that trading head Thomas Maheras was leaving.