FDIC officials discussed Pandit’s future at Citi: report
Senior Federal Deposit Insurance Corp officials privately discussed who might replace Citigroup Inc Chief Executive Vikram Pandit if the bank needed more government aid, the Financial Times reported on its website late on Monday.
Successors being discussed by FDIC officials include Ned Kelly, Citigroup’s chief financial officer, Gary Crittenden, his predecessor and chairman of the division containing the New York company’s non-core assets, and one of Citi’s new board members, the paper said, citing people close to the situation.
The FDIC did not return a Reuters email seeking comment that was sent outside of normal business hours.
The paper said the FDIC is one of the regulators which has a say on whether Pandit steps down if the government bails out Citi for the fourth time in six months faxless payday loan online.
A Citigroup spokesman in Hong Kong declined to comment on the report.
Last week, Citigroup, reported better-than-expected results as an accounting benefit for distressed companies, cost-cutting and improved trading results helped offset red ink from consumer lending and credit cards.
The bank, bailed out with $45 billion of taxpayer money, joined Goldman Sachs Group Inc, JPMorgan Chase & Co and Wells Fargo & Co in signaling that massive government efforts to jump-start the ailing economy are helping boost bank earnings.
(Reporting by Ajay Kamalakaran in Bangalore; Editing by Anshuman Daga)