We’re not sure that anyone ever believed that Vikram Pandit was acting purely of his own volition when he stepped down as chief executive officer of Citigroup earlier this month, whatever Mr. Pandit or Citi Chairman Mike O’Neill said—now there’s less reason to believe the official account of Mr. Pandit’s departure.
According to Jessica Silver-Greenberg and Susanne Craig at The New York Times, Mr. Pandit met with Mr. O’Neill on the day before he resigned, and presented with a choice between three already prepared news releases:
Politico got its hands on a copy of Greg Smith’s Why I Left Goldman Sachs, and published some excerpts yesterday. There’s an allegation that the bank advised clients to buy and sell stock options on European banks amid the region’s ongoing debt crisis, so that the firm could profit by taking the other side Read More
Vikram Pandit is stepping down as chief executive officer of Citigroup, and the executive who divested the bank’s toxic assets in the wake of the financial crisis is moving into the bank’s top job.
Citi said in a statement today that Mr. Pandit was resigning and that Michael Corbat, Citi’s head for Middle East Read More