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vikram pandit

Oct 17, 2012

After Pandit, a smaller Citi could get smaller yet

NEW YORK (AP) — The incredible shrinking bank may have to shrink more. In the hours after Tuesday’s surprise announcement that Citigroup CEO Vikram Pandit was stepping down, speculation was rife, and facts scant, about what lay ahead for the nation’s third-largest bank. Pandit left after a series of embarrassments and missteps that apparently unsettled […]

Oct 16, 2012

Vikram Pandit steps down as Citigroup CEO

Vikram Pandit abruptly stepped down as CEO of Citigroup on Tuesday, shocking Wall Street, after steering the bank through the 2008 financial crisis and the choppy years that followed. Pandit’s replacement, effective immediately, is Michael Corbat, who had been CEO of Citigroup’s Europe, Middle East and Africa division, the bank said. Corbat has worked at […]

Aug 17, 2012

Study: Companies paid more to CEOs than in U.S. tax

NEW YORK — Twenty-six big U.S. companies paid their CEOs more last year than they paid the federal government in tax, according to a study released Thursday by a liberal-leaning think tank. The study, by the Institute for Policy Studies, said the companies, including AT&T, Boeing and Citigroup, paid their CEOs an average of $20.4 […]

Aug 16, 2012

Study: Companies paid more to CEOs than in U.S. tax

NEW YORK — Twenty-six big U.S. companies paid their CEOs more last year than they paid the federal government in tax, according to a study released Thursday by a liberal-leaning think tank. The study, by the Institute for Policy Studies, said the companies, including AT&T, Boeing and Citigroup, paid their CEOs an average of $20.4 […]

Apr 17, 2012

Citigroup investors give thumbs down to exec pay

NEW YORK — Citigroup shareholders are strongly expressing their displeasure with the pay that the bank’s top executives are taking home. At its annual meeting Tuesday, 55 percent of shareholders voted against the pay packages that have been granted to Citigroup’s top executives. The vote is not binding. Citigroup’s CEO Vikram Pandit received $14.8 million […]

Oct 17, 2011

Citigroup earnings rise 74 percent, to $3.8B

NEW YORK — Citigroup Inc.’s earnings rose 74 percent in the third quarter as more of its customers paid their bills on time, leading to lower losses from loans. An accounting gain also boosted income. The profit report came as the Occupy Wall Street movement entered its second month and spread across the country, targeting […]

Apr 18, 2011

Citi’s Q1 profit falls 32 percent on lower loans

NEW YORK — Citigroup’s first-quarter income fell 32 percent on lower revenue from investment banking and a decline in consumer loans. The bank was able to set aside fewer reserves for losses as more borrowers were able to keep up with their debt payments. The New York bank said Monday that it earned $3 billion, […]

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