Citi’s Pandit made $10.8 mn in 2008

October 8th, 2009 WASHINGTON - An outside review of Citigroup Inc.'s management team has concluded that it is generally in good shape and awarded strong overall marks in particular to the banking giant's Indian American CEO Vikram Pandit, according to a media report. The review, conducted this summer for Citigroup's board by recruiting and consulting firm Egon Zehnder International, however suggested that some shuffling of senior executives might be needed, the Wall Street Journal reported Wednesday citing people familiar with the matter.

October 5th, 2009 Citi Wealth Management shifts to fee-based modelNEW YORK — Citigroup Inc. said Monday it is switching to a fee-based model in its retail investment business, eliminating commissions for its 600 in-house financial advisers by the end of next year.

June 16th, 2009 WASHINGTON - Vikram Pandit, the Indian-American chief executive of ailing banking giant Citigroup, has taken a swipe at recent efforts to prevent US banks that received government capital from hiring foreign workers, saying the new growth driver for US financial markets was Asia. "It's important that the most talented people in the world continue to believe that American companies are employers of choice," he said stressing the importance of globalisation at a conference of business, economic and government leaders in Detroit Monday.

April 25th, 2009 WASHINGTON - The US Government is considering axing Citigroup's Indian American CEO Vikram Pandit, according to media reports. The government is also set to release the results of its stress tests analysing 19 financial firms.

April 16th, 2009 NEW DELHI - A man on his deathbed doesn't lie, they say. So a Lok Sabha aspirant from Uttar Pradesh came on a bier to file his nomination and make the point that he would keep his promises to voters.

April 2nd, 2009 LUCKNOW - A legislator of the Bahujan Samaj Party (BSP) has been booked for threatening people and a police officer during an election meeting in Uttar Pradesh, an official said Thursday. Guddu Pandit, a lawmaker from Dibai in Bulandshahr, has allegedly threatened people to vote in favour of his brother Mukesh Sharma, who is BSP's Lok Sabha candidate from the Baghpat constituency.

March 11th, 2009 WASHINGTON - Vikram Pandit, the Indian American chief executive of Citigroup Inc, Tuesday said the ailing banking giant was profitable during the first two months of the year and called its capital position 'strong' in remarks leading to a rise in the stock price. 'Our stock price is not an indication of our financial strength,' Pandit said in a memo to employees acknowledging concern about the price of Citigroup's shares that have been under constant pressure over the last week.

February 24th, 2009 WASHINGTON - Amid reports that the US government is in talks to increase its stake in the Citigroup, its Indian American chief executive Vikram Pandit sought to reassure employees about the ailing banking giant's future. 'As you know, financial markets around the world remained under great pressure this week, again fuelling speculation about additional intervention in financial institutions by the US government,' he said in a 'Dear Colleagues' letter Monday.

February 11th, 2009 WASHINGTON - Stung by criticism about use of billions of dollars in government aid, Citigroup's Indian American CEO, Vikram Pandit has vowed to take a token salary of $1 and no bonus until the ailing banking giant returns to profitability 'I get the new reality and I will make sure Citi gets it as well,' Pandit said Wednesday as lawmakers grilled top executives from eight of America's largest financial institutions about their apparent lack of willingness to lend despite collectively receiving $165 billion in capital. 'We will hold ourselves accountable for what we do, and that starts with me,' said Pandit, who collected a salary of $1 million last year.

February 10th, 2009 WASHINGTON - Vikram Pandit, Indian American chief executive of CitiBank, and the heads of seven other major American banks will defend the use of hundreds of billions of dollars in bailout money to lawmakers on Capitol Hill Wednesday. 'American people are right to expect that we use funds responsibly, quickly and transparently to help American families, businesses and communities,' Pandit is expected to say before the House Financial Services committee, according to prepared remarks.

February 4th, 2009 WASHINGTON - With the government expected to give ailing US financial institutions billions more in aid, President Barack Obama has moved to rein in firms with new restrictions including $500,000 a year cap on the pay of top executives. 'We're going to be demanding some restraint in exchange for federal aid - so that when firms seek new federal dollars, we won't find them up to the same old tricks,' Obama said while announcing the new limits at the White House Wednesday.

January 15th, 2009 NEW YORK - Citigroup Friday announced its fifth straight quarter of net losses, though it said it continues to focus on getting 'fit'. According to a press release, the company had a fourth quarter net loss this year of $8.29 billion.

January 11th, 2009 AGRA - A man wanted for the murder of a youth leader of the Lok Janshakti Party (LJP) was Monday shot dead by the police here. Sanju Pandit was killed in a shootout when he was entering Agra.

January 4th, 2009 LUCKNOW - A man wanted in cases of murder, extortion and abduction was shot dead in a gunbattle with the police in Uttar Pradesh Monday, officials said. 'Sundar Pandit, who carried a reward of Rs.10,000 was shot dead in Muzaffarnagar district.

December 31st, 2008 WASHINGTON - Citigroup Inc.'s Indian American chief executive Vikram Pandit and chairman Win Bischoff would forego bonuses for 2008, the ailing banking giant announced as it formalised its bailout agreement with the US government. Bonuses for other top executives will be 'reduced substantially,' Pandit said in a memo to Citigroup employees Wednesday.