Citigroup Inc., the biggest U.S. bank to have regulators reject its capital plan this year, dismantled a board committee created during the credit crisis to police the disposal of toxic and unwanted assets.
Citigroup Inc ., the third-largest U.S. bank by assets, will split at least $11.9 million among four executives if the company meets profit thresholds set at less than half what the lender generated since 2009.
The pitch was enticing. At a time when the Standard & Poor’s 500 Index had suffered a decline of 41 percent in the previous three years, Morgan Stanley was offering its clients the possibility of some relief.
Citigroup Inc., the third-biggest U.S. bank, sold servicing rights for a $2.6 billion real estate portfolio to CWCapital LLC as Chief Executive Officer Vikram Pandit continues to offload unwanted assets.