Finance / United States
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
Citigroup's Overhaul
April 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
Vikram Pandit, Citigroup's chief executive since December, has begun a major overhaul to enhance efficiency and beef up its balance sheet. The new strategy began in January and Citigroup has seen major changes in the first quarter. On April 1, Pandit announced the separation of its credit-card business, and increased autonomy for its regional units. Pandit is charged with the task of turning Citigroup around after having lost half its market value and written down more than US$20bn since the sub-prime mortgage and credit crises hit.