Vikram Pandit News
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Updated 2 hours, 17 minutes ago
Former Citigroup Inc. Chief Executive Officer Vikram Pandit is buying a stake in India’s JM Financial Ltd. and taking a leadership role as it seeks to set up a bank, the Mumbai-based company said.
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Moore Capital Management LP and Appaloosa Management LP are among hedge fund firms that counted Citigroup Inc. among their top holdings before the bank posted a 16 percent rally in a month and a half.
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Michael Corbat, hunting for revenue seven months into his tenure as chief executive officer of Citigroup Inc., said the improving U.S. housing market and declining unemployment won’t ignite the nation’s economy unless companies start spending.
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For a pair of former Citigroup Inc. hedge-fund managers, Napier Park Global Capital may turn into a multimillion-dollar payday thanks to the Volcker rule.
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The tiny Persian Gulf nation of Qatar controls vast gas and oil deposits that feed billions of dollars annually into the state Treasury. Its petroleum riches make it the wealthiest nation per capita in the world, according to the International Monetary Fund.
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Citigroup Inc. shareholders, who rejected the bank’s 2011 compensation plan, voted in favor of the latest round of payouts after the lender said it overhauled rewards for top executives.
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The chief executive officers of software developer Oracle Corp. and watchmaker Fossil Inc. both work for a salary of a dollar or less a year. The only difference: $96.2 million.
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Citigroup Inc., the third-biggest U.S. bank, rose in New York trading after first-quarter profit and revenue from fixed-income trading and investment banking exceeded analysts’ estimates.
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Finding work on Wall Street is getting tougher as algorithms replace traders.
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Citigroup Inc. directors ousted Chief Executive Officer Vikram Pandit after concluding his mismanagement of operations caused setbacks with regulators and cost credibility with investors, a person with knowledge of the discussions said.
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