Citi

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Charlie Gasparino is hearing that senior bonuses at Citi this year will be paid out half in stock that vests in five years and half in cash that only 20 percent of which is immediately available (30% of the cash portion will supposedly be awarded in two years). For those who don’t know you’re supposed to stop pushing the Q-tip when there’s resistance who may be having trouble figuring out why some people wouldn’t be so happy about being paid in such a structure, Chaz’s source explains: Read more »

  • 17 Dec 2010 at 10:33 AM

Caption Contest Friday


Vikram Pandit tests out the goods at Citi’s new branch, which the bank opened yesterday and celebrated with a red carpet and a waiter carrying ‘a platter of bite-size donuts and a sugary dipping sauce.’ [Dealbook via HNM]

With the passing of the Dodd-Frank Bill, one pesky thing that banks have had to spent a couple hours getting in line with is the Volcker Rule, and what it means for their proprietary trading desks. Whether to spin them off, send the employees to a farm in the country where they can run around, move them to the basement or just rename the group the ‘troprietary prading’ unit, about which no one will be the wiser, the whole thing has been a bit of a headache. One person who hasn’t lost any sleep over the mandate, however, is Vikram Pandit. Because unlike his counterparts at say, Goldman, who’ve clutched their pearls and felt faint at the thought of a world without prop, Vickles got behind the rule before it was even a twinkle in Volcker’s eye. Read more »

Here in the United States, David Hasselhoff is seen as the guy who gets drunk and eats cheeseburgers off the floor. To put it mildly, he doesn’t get much respect. Over in Germany, however, he’s the second coming of Christ and is treated like a prince. Until recently, Vikram Pandit never knew what it felt like to be loved and hated in equal measure, and didn’t really understand how hard The Hoff had it. Yesterday, at the G20 Summit, however, he hinted that he’s starting to relate. Read more »

FINALLY. Read more »

As you know, Wednesday night was a big night for Uncle Vik. Despite the fact that Jay-Z was a no show, Pandito had a ball while being honored at a gala dinner benefiting the New York Police & Fire Widows’ & Children’s Benefit Fund. During the charity auction part of the evening, the Citi CEO bid $9,000 for a day of training at the NYC Fire Department, which he very well could’ve selfishly used himself. Rather than being put through the paces, however, generous Vikram will said that he will be raffling off the prize to one very lucky Citi employee, so watch out for one of those massive lottery wheels in the lobby soon.

And that’s not all. Read more »