Vikram Pandit steps down from Citi

Citi's chief executive Vikram Pandit resigns along with the bank's chief operating officer John Havens, effective immediately. Michael Corbat becomes CEO and a director of the board.
October 17, 2012
Vikram Pandit speaking at Citi's 200th Anniversary reception in Hong Kong in August Eyepress News

Vikram Pandit stepped down as Citi’s chief executive yesterday and resigned from the bank’s board, effective immediately.

The move, which was announced after the close of business in Asia yesterday, took bankers in the region by surprise. “I was totally amazed, I thought he was just getting started,” said one Citi banker. “It caught us by surprise.”

Michael Corbat, Citi’s CEO for Europe, the Middle East and Africa Emea, has assumed Pandit’s role as CEO and taken his seat on the...

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