VIKRAM PANDIT

  • One in 10 corporate leader jumping to startup wagon May 26, 2013

    New Delhi: An average of one in every ten top level corporate executive is opting for startup ventures to satisfy their urge to take up challenging roles, a new survey has found. However, the success rate of an executive working with an established traditional business moving to a startup venture is...
  • Citigroup exchief Vikram Pandit buys stake in JM Financial May 16, 2013

    Mumbai: JM Financial Ltd has said that former Citi Chief Executive Vikram Pandit and his business partner, Hari Aiyer are to buy a 3 per cent equity stake in the financial services company through an issue of warrants. JM Financial also said it would set up a fund jointly with...
  • Citigroup to pay Pandit more than $ 15 million November 10, 2012

    New York: Citigroup said it will pay $15.5 million to Vikram Pandit, its former chief executive who resigned from company last month, as well as to his top deputy. The bank said on Friday the payments to Pandit and former Chief Operating Officer John Havens reflect the progress the bank...
  • After Vikram Pandit, Citigroup is 'going to get a lot smaller' October 17, 2012

    New York: The incredible shrinking bank may have to shrink more. In the hours after surprise announcement that Citigroup CEO Vikram Pandit was stepping down, speculation was rife, and facts scant, about what lay ahead for the nation's thirdlargest bank. Pandit left after a series of embarrassments and missteps that apparently...
  • Vikram Pandit steps down as CEO of Citigroup October 16, 2012

    New York: Citigroup Inc Chief Executive Vikram Pandit resigned abruptly on Tuesday, effective immediately, a shock change at the top of the No 3 US bank just one day after a surprisingly strong quarterly earnings report. Analysts and investors quickly raised red flags about the timing, saying it did not appear...
  • Citigroup's Vikram Pandit sued over excessive pay April 21, 2012

    Washington: Citigroup's Indian American CEO Vikram Pandit and its directors have been sued by a bank shareholder over a compensation package that was contested by investors in a rare failed "sayonpay" vote. A lawsuit filed in Manhattan on Friday by shareholder Stanley Moskal says Pandit and directors breached their fiduciary duties...
  • Citi CEO Vikram Pandit's pay soars to $14.9 mn March 9, 2012

    New York: Citigroup Chief Executive Vikram Pandit finally got his payday. The third biggest US bank company paid Pandit $14.86 million in 2011, compared with a salary of $1 and no bonus in 2010, according to a filing with the Securities and Exchange Committee. The 2011 payout included salary of $1.7...
  • 'Citigroup to axe 4,500 jobs in coming months' December 7, 2011

    New York: Citigroup Chief Executive Vikram Pandit has announced 4,500 jobs cuts worldwide in the coming months as the US financial major seeks to trim costs in a bleak global economic environment. The job cuts will begin this quarter and be completed "over the next few quarters" across a range of...
  • Vikram Pandit's Citigroup reports $ 3.8 bn profit October 18, 2011

    Washington: As Citigroup announced a betterthanexpected thirdquarter profit of $ 3.8 billion, its IndianAmerican chief Executive Vikram Pandit emphasised the banking giant's position in emerging markets as a big growth driver. Though the gains largely came from credit value adjustment (CVA) that allows the bank to book gains from increases in...
  • Citigroup gives $ 16 mn retention award to CEO May 19, 2011

    Boston: Citigroup on Thursday said it has rewarded CEO Vikram Pandit with an over 16 million dollar 'retention award' for his 'outstanding job' of steering the financial giant to profitability and executing a strategy for sustainable growth. Pandit has been taking home a token one dollar salary from Citigroup since 2009. The...
  • Citi's Vikram Pandit applauds the India story March 4, 2011

    New Delhi: Citigroup CEO Vikram Pandit, on his maiden visit to India since he took over the beleaguered global financial giant in 2007, says the country's institutions are strong enough to deal with any challenge. His visit comes at a time when Citi is pushing forward with its backtobasics strategy...
  • Citi CEO Pandit's salary soars to $ 1.75 mn January 22, 2011

    New York: Citigroup Inc Chief Executive Vikram Pandit got a $1,749,999 raise on Friday. Pandit pledged in 2009 to receive an annual salary of $1 until the struggling Citigroup returned to sustained profitability. On Friday afternoon, three days after the bank reported its first full yearprofit since 2007, the board raised...
  • Citibank petitioner speaks to CNNIBN January 5, 2011

    Sanjeev Aggarwal speaks to Rajdeep Sardesai about the multicrore Citibank fraud case. ...
  • Citi fraud: Victim says bank must compensate January 5, 2011

    New Delhi: The first complainant in the Rs 300 crore Citibank fraud, has described it as a systemic failure and has alleged the fraud is not just a bank issue, and multiple parties might be involved. Sanjeev aggarwal, MD, Helion Advisors says, "I came to know about this a month...
  • RBI starts investigating the Citibank scam January 5, 2011

    New Delhi: The Reserve Bank is investigating the Rs 300 crore fraud in Citibank's Gurgaon branch, which saw diversion of depositors funds in stock markets. "RBI is investing the matter (Citi Bank fraud)," a key Reserve Bank source said. The fraud at the Citibank's Gurgaon branch, involving diversion of depositors money into...
  • Fraud: FIR against Citi CEO Vikram Pandit January 4, 2011

    Gurgaon: The Gurgaon police on Tuesday registered an FIR Citibank CEO Vikram Pandit and 10 other top officials in the Rs 300crore Citibank fraud case. The fraud at the bank's Gurgaon branch, involving diversion of depositors money into the stock market, was uncovered last week. Besides Pandit, the FIR filed by a...
  • Citi CEO Vikram Pandit sticks to $1 annual salary November 18, 2009

    Washington: Banking giant Citigroup's IndianAmerican Chief Executive Vikram Pandit will continue to work for an annual salary of $1 even as the group raised the annual base salary for two of its executives. Pandit who in January voluntarily agreed to accept $1 per year until the bank returned to profitability, also...
  • Citigroup clocks profit, on road to recovery October 16, 2009

    Washington: Citigroup, led by its Indian American CEO Vikram Pandit, has reported a slim profit of just $101 million in the third quarter, indicating its road to recovery may be a little longer. With credit problems, particularly within its consumerrelated businesses, weighing down its thirdquarter results and after taking into account...
  • Citi to keep expanding in India, China: Vikram Pandit July 28, 2009

    Washington: Citigroup Inc's Indian American chief executive Vikram Pandit says he hopes to continue expanding the bank's business in the two biggest engines of growth in Asia, China and India, despite tough local restrictions. The bank wouldn't retreat from fastgrowing Asian businesses even as the financial crisis has forced it...
  • Vikram Pandit stays as Citi reshuffles top management July 10, 2009

    Washington: Citigroup has announced changes in several top management roles in the company in what the troubled bank's Indian American CEO Vikram Pandit described as moves that will "further help in positioning our company for the future". But Pandit, who has been the target of much criticism for his management of...
  • Vikram Pandit vows to bring Citibank back on track June 9, 2009

    Citibank's Vikram Pandit has been named one of the worst CEOs in America. But Pandit is unfazed and is focused on turning Citibank around. Pandit outlined his plans in an exclusive interview with CNN's Matthew Chance. CNN: You have been named the worst CEO. Have you considered stepping down? Vikram Pandit: I...
  • Citi's Pandit rated among 20 worst ever CEOs April 24, 2009

    New York: Donning the role of a commander illequipped to save the Titanic of banking world, Citigroup's Indiaborn chief Vikram Pandit has found a place among the 20 worst ever CEOs in the American history, but the top honours has gone to bankrupt Lehman Brothers' Dick Fuld. The list of...
  • Pandit's Citi, Sanjay Jha's Motorola among top losers April 21, 2009

    Washington: Citigroup led by IndianAmerican chief executive Vikram Pandit and Motorola, headed by Sanjay Jha also of Indian origin, figure in the Fortune 500 list of firms posting some of the biggest losses last year. Citi clocked an annual loss of $27.7 billion while Motorola incurred a loss of $4.2 billion,...
  • Citigroup FQ loss smaller than expected April 18, 2009

    New York: Citigroup Inc reported a smallerthanexpected firstquarter loss for shareholders as costcutting and improved results in investment banking and trading helped to offset red ink from consumer lending and credit cards. The thirdlargest US bank on Friday joined Goldman Sachs Group Inc, JPMorgan Chase & Co and Wells Fargo...
  • Citibank's Pandit to take $1 salary, no bonus February 12, 2009

    Washington: Stung by criticism about use of billions of dollars in government aid, Citigroup's Indian American CEO, Vikram Pandit has vowed to take a token salary of $1 and no bonus until the ailing banking giant returns to profitability. "I get the new reality and I will make sure Citi gets...
  • Citigroup CEO, chairman, CFO get no bonuses January 21, 2009

    New York: Citigroup Inc on Wednesday said Chief Executive Vikram Pandit, Chairman Win Bischoff and Chief Financial Officer Gary Crittenden refused to be considered for incentive or retention awards, following five straight quarterly losses for the bank. In a US Securities and Exchange Commission filing, Citigroup said its board on...
  • Citigroup splitting into two after $8.3 billion loss January 17, 2009

    Washington: Citigroup revealed plans to split up into two businesses, effectively bringing an end to the company's "financial supermarket" model, after reporting a much biggerthanexpected $8.3 billion quarterly loss on Friday. Under the new arrangement revealed by the banking giant's Indian American CEO Vikram Pandit in New York, Citigroup would split...
  • Working against US realty cost us dear: Citi CEO November 26, 2008

    New York: Vikram Pandit, the chief executive of Citigroup, has said the banking behemoth's putting in lot of money against US real estate is one of the main reasons for things going wrong at the company. "... What went wrong is we had tremendous concentration in the sense we put a...
  • Citi to retrench 50,000 workers to launch ad campaign November 26, 2008

    New York: Banking giant Citigroup, despite of the US governments bailout is planning to retrench 50,000 workers and instead will launch a $400 million ad campaign. As part of the ad campaign, Citi erected giant orange signs from every major highway surrounding the ballpark in Queens, New York. US Congressmen...
  • US Govt bails out Citigroup, Pandit keeps his job November 24, 2008

    New York: Indiaborn 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...