Click to play videoNew York: India-born Citigroup Inc Chief Executive Officer Vikram Pandit might as well keep his job according to a clause in his agreement with the company.
The good news for Pandit comes in as the US Government has come to the rescue of Citigroup, following a 60 per cent stock plunge and concerns over its financial health.
The other top management, too, will keep their jobs, but the US Government will have the final say on executive pay packages.
Citigroup will get a cash infusion of $20 billion and government guarantee on $300 billion worth of risky loans and mortgage backed securities.
US Government will get a preferential share allotment in return for the guarantee.
The US Federal Reserve, in a statement on Sunday night said the move aims to bolster financial-market stability and help restore economic growth.
Citigroup's tumbling share price sparked concern that depositors might pull their money and destabilise the company.
The bank had already got a $25 billion cash infusion in October.
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