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| Date: |
15 May 2008
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| Name/Email: |
Citi boy ()
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| Silly question. Of course Pandit's not up to it. The biggest thing he ever managed previously was a hedge fund, which hardly leaves him well placed to manage an investment bank, a retail bank, an asset manager and God knows what else. All he's done so far is bring in a few cronies (John Havens Brian Leach), and produce this restructuring plan, which would be cripplingly expensive. |
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| Date: |
15 May 2008
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| Name/Email: |
steve ()
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| it took years to get rid of chuck prince, and i hope it doesn't take a decade to put a proper CEO in place. Pandit is way out his league on this one. Citi will fall like humpty dumpty and pandit will walk away with millions redundancy pay |
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| Date: |
15 May 2008
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| Name/Email: |
Pandit pundit ()
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| Consumer banking is Pandit's weak spot. He might just about be able to get a handle on the investment bank, but how's a guy from a hedge fund going to run a huge consumer banking operation? Hence, I suspect, the decision to get rid of part of it. |
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| Date: |
15 May 2008
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| Name/Email: |
Citi defender ()
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| Pundit, strikes me you know nothing about Citigroup and should keep your opinions to yourself. If you did know, you might be aware that Pandit has brought in Terri Dial, former Wells Fargo banker, so sort out the consumer business. |
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| Date: |
16 May 2008
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| Name/Email: |
Pandit defender ()
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| We lack a powerful hero like Sandy Will at this time. Citi's fate is sold, as same as BellStern. |
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| Date: |
16 May 2008
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| Name/Email: |
Mark Fotheringill ()
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| If you could see the quality of staff at Citi, you would start thinking that a complete closure of the Bank is really the best option. |
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| Date: |
16 May 2008
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| Name/Email: |
President Bongo ()
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| It's all true. I'm just holding out for sweet redundancy. Easiest cost cutting measure? Fire anyone with 'global' or 'head' in their job title. This will leave only people with actual definable function e.g. keep lawyers 1-5 , fire Global Co Head of EMEA Development Strategy. And fire anyone who sends a congratualatory email to the who building welcoming someone to the team. |
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| Date: |
17 May 2008
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| Name/Email: |
Red Roger ()
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| Pandit has been handed a poison chalice. Citigroup needs more capital, but whose going to buy those assets Pandit wants to sell for a reasonable amount in this environment? Add this with to fact that the back office systems are interlinked and overheads are combined and you have huge restructuring costs and deep deep do do. |
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| Date: |
17 May 2008
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| Name/Email: |
REP ()
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| V.P. made a top impression at Morgan Stanley, very intelligent, thoughtful and visionary. What is worrisome? A lot of senior managers at MS were incapable. Top management was asleep at the wheel, dreaming of politics and empire building, while Morgan Stanley Investment Management leaders in NY and London were complete failures. Just look at GSAM in comparison.You have to wonder whether V.P. is also long on sales, but short real management ability. There are too many investment banks already. Perhaps V.P. can put Citi out of its misery....... |
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| Date: |
19 May 2008
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| Name/Email: |
Paul ()
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| I know at there is going to be another 2 sets of redundancies announced in the coming 6 months. The big question at Citi and in the market is how did GS & JP Morgan not get hit by the Credit Crunch? simple their risk management sat down last March reviewed the protfolio's and decided that they were not going to continue to invest in the Credit market!! seems simple to me!!! |
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