Detail Pray as you go; Citigroup and Vikram Pandit   Oleh:  [s.n] Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 405 no. 8807 (Oct. 2012), page 61-62. Topik: Chief Executive Officers; Banks; Resignations Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.74 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel For all its many flaws, Citigroup is never dull for long. At the IMF meetings in Tokyo at the weekend, Vikram Pandit, its chief executive, looked happy as Larry, gladhanding guests at a reception. At the start of this week, the bank announced third-quarter earnings that, given spectacular past losses and modest expectations, might be called pleasantly uninteresting. Only a day later Mr Pandit abruptly resigned; John Havens, Citi's chief operating officer, left, too. A replacement was hastily found from within the bank: Michael Corbat, previously head of Citi's businesses in Europe, Middle East and Africa, is a veteran whose tenure dates back to 1998. An unexpected end fits neatly with the oddness of Mr Pandit's Citi career. Brought into the bank as a result of a wildly overpriced acquisition of a hedge fund he ran (which Citi subsequently closed), Mr Pandit had been around for only five months when, on December 11th 2007, he was made chief executive. Since his elevation, Citi's share price has lost 89% of its value, putting him among the least successful of the current crop of bank bosses. Citi's recovery is far from complete and the bank's long-term earnings power is unclear. Mike Mayo, an analyst at CLSA, a broker, faults him for misjudging the severity of Citi's problems and not pruning the scope of its businesses sufficiently hard. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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