Earlier we mentioned that after getting his hopes up vis-a-vis earning more than a buck a year, the Citi board had decided its commander in chief would not get a raise from his current salary. Such is not the case. Read more »

  • 24 Sep 2010 at 4:30 PM

Vikram Pandit To Remain $1 Man A While Longer

The past couple years have been something of a kick the pants for Vikram Pandit and certainly not what he was expecting when he agreed to take on the role of Citi CEO in exchange for almost a billion dollars, plus the keys to his lemon, otherwise known as Old Lane. Previously a smiley, jolly fellow of a sunny disposition, he lost weight and found himself in something of a funk. Then, in April, things started to look up. “Vikram is looking and sounding a lot more confident and secure,” a top lieutenant told the Times. “He has a smile on his face.” And why? “He sees the day when he is going to earn more than a $1 a year.” Today, someone felt the need to come along and knock the wind out of those sails (of hope). Read more »

Apparently, yes. We’re told the “majority if not everyone” from the Houston energy office, headed by Stephen Trauber and said to be considered “the best division at UBS,” walked out last night and is headed for Citi. Read more »

At least that seems to be the implication, based on this laminated list of the top things women do to “sabotage their careers,” which is can apparently be found on the desk of every female HR employee at the ‘group. [DX]

  • 30 Aug 2010 at 2:34 PM

Mike Mayo: Citi Not To Be Trusted

As mentioned last week, analyst Mike Mayo has been going around telling clients and whoever else will listen that the bank is inflating its profits and needs to a write down $50 billion of deferred-tax assets. For the offense, Citi has, according to Charlie Gasparino, frozen Mayo out. No one-on-ones in Pandit’s office, no phone interviews, and he’s even blocked from Uncle Vik on IM, which has got to chap some serious hide. On Friday, fellow analyst Dick Bové inserted himself into the situation, coming out and claiming Mayo be talking shit, and that Citi is “not cooking the books.” Today, Mayo went on.

“We believe that Citigroup’s financial targets can encourage short-term excesses over long-term prudence,” Mayo wrote in a note to clients titled “A Matter of Trust.” Mayo, an analyst at the securities firm CLSA, added: “Citi has an aggressive financial target of 5% asset growth when so much of its past problems stem from excessive asset growth.”

Read more »

  • 27 Aug 2010 at 12:00 PM

Dick Bové: FYI, Citi Is Not “Cooking The Books”

Lest there be any confusion about what they do over there all day. Read more »

  • 26 Aug 2010 at 5:45 PM

Vikram Pandit Urges Employees To Get A Little R&R

From: VikramPandit
Sent: Thursday, August 26, 2010 5:36 PM
To: VikramPandit
Subject: Let’s Keep Going!

Dear Colleagues,

In New York, summer can be a time of year when things slow down. But as I talk to our people and visit Citi locations around the world, it is very clear to me that we have been keeping up a good pace throughout this great institution. Having held Town Halls in Mexico City, St. Petersburg, Hanoi and Singapore over the past few months, I continue to be struck by your enthusiasm and dedication. I want to share with you some of the things we have accomplished together recently.

Read more »