The Vikram Pandit Exit … And What Came Before It

acting-man.com / By Charles de Trenck / October 22, 2012

Working at Citi for 10 years up to 2008 really drained me. The constant politics and uphill battles really got to me – to the point where I was having nightmares of Citi after I left. I finally got rid of the nightmares when I gained more distance and recognized I had done my best as an analyst on behalf of my clients with money generating or value preservation ideas.

Upon Vikram Pandit’s resignation, I sent out a quick comment and reference to Sheila Bair’s trenchant and generally correct analysis of Pandit.

Links to Sheila Bair’s assessment:

WSJ Deal Journal: Sheila Bair: Citi Board Should Be Commended For Pandit Change
CNN Money: Sheila Bair: “I’m sure Vikram still blames me”
CNN Money video: Bair: Why Citi should have been broken up
Bloomberg: Pandit Departure Is Positive for Citigroup, Bair Says

I got back feedback ranging from people disappointed with the sale price on the Smith Barney disposal to Morgan Stanley (from an ex-Citi guy) to comments stating Pandit actually did a good job at Citi (from a current Citi executive).

As it happened, I had just posted some comments, including accounts of some compliance and IT nightmares I experienced at Citi — frustrating admin and IT stuff that happened before and just after Pandit took over from Chuck Prince.

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