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Vikram Pandit - CNBC

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  • Ousting of Pandit Was a Definite 'Coup': Pro     Wednesday, 17 Oct 2012 | 5:30 AM ET

    Bethany McLean, contributing editor at Vanity Fair and columnist at Reuters, tells CNBC there definitely was a coup going on regarding the resignation of Citigroup CEO Vikram Pandit one day after the release of earnings results.

  • Pandit 'Wore Out His Welcome': Expert     Wednesday, 17 Oct 2012 | 5:00 AM ET

    Len Blum, managing director at Westwood Capital and David Enrich, European banking editor of the Wall Street Journal, tell CNBC that a series of mishaps and poor strategic direction led to former Citigroup CEO Pandit's recent resignation.

  • FT's Lex: New CEO Doesn't Make Citi More of a Buy     Wednesday, 17 Oct 2012 | 4:20 AM ET

    Stuart Kirk, head of LEX column at The Financial Times, tells CNBC, whether you pay a dividend or not does not change the valuation of a company and in the context of Citi is an irrelevant sideshow.

  • What Kind of CEO Does Citi Need?     Wednesday, 17 Oct 2012 | 2:00 AM ET

    James Caan founder and CEO of Hamilton Bradshaw, tells CNBC, that the resignation of Vikram Pandit from Citi would have been well preplanned and organized at least four to six weeks ago.

  • After Pandit, a smaller Citi could get smaller yet Wednesday, 17 Oct 2012 | 12:04 AM ET

    In the hours after Tuesday's surprise announcement that Citigroup CEO Vikram Pandit was stepping down, speculation was rife, and facts scant, about what lay ahead for the nation's third-largest bank. It trails JPMorgan Chase, with $2.3 trillion, and Bank of America, with $2.1 trillion.

  • Pandit's Departure Raises Even More Questions     Tuesday, 16 Oct 2012 | 7:40 PM ET

    Matt Koppenheffer, Senior Banking Analyst, Motley Fool says Pandit's abrupt departure from Citi raises questions about what went on behind closed doors. He also discusses what Michael Corbat will bring to the table for Citi.

  • Shake-Up at Citi: Time to Buy?     Tuesday, 16 Oct 2012 | 7:15 PM ET

    CNBC's Bob Pisani reports today is the second day the markets closed around highs; and Kenneth Heebner, Capital Growth Management, offers his take on Citigroup CEO Vikram Pandit's decision to quit today, and housing prices.

  • Mad Money host Jim Cramer shares his final thoughts of the day.

  • Citi's long run of stumbles, successes, near-death Tuesday, 16 Oct 2012 | 5:41 PM ET

    In between its founding and its near-death, the company now called Citigroup has played a central role in U.S. financial history. On Tuesday, Corbat was named Citi's new CEO after the abrupt departure of Vikram Pandit, who had led the company through the financial crisis and its aftermath.

  • In a surprise, Pandit steps down as Citigroup CEO Tuesday, 16 Oct 2012 | 5:32 PM ET

    Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director. The move shocked Wall Street, and Citigroup offered no explanation.

  • Citigroup picks veteran to replace Pandit as CEO Tuesday, 16 Oct 2012 | 4:54 PM ET

    NEW YORK-- In picking Michael Corbat to take over as CEO of Citigroup, the board of directors chose a low-profile veteran of the bank _ a sharp contrast to Vikram Pandit, his suddenly departed predecessor. Corbat, 52, has spent his entire career at Citigroup and its affiliated businesses.

  • New Citi CEO says no change of direction Tuesday, 16 Oct 2012 | 4:41 PM ET

    NEW YORK-- The new CEO of Citigroup says the departure of Vikram Pandit doesn't mean a change of direction for the bank. Corbat says: "Today's changes do not reflect any desire to alter the strategic direction of Citi, which we believe to be the right one." The chairman of Citi's board, Michael O'Neill, says the decision was Pandit's and there is not "another shoe to drop."

  • Talking Numbers: Citi and the Banks     Tuesday, 16 Oct 2012 | 3:30 PM ET

    Dan Greenhaus, BTIG, and Enis Taner, RiskReversal.com, discuss whether you should buy financials.

  • In this "Closing Bell" excerpt, Pimco's Bill Gross explains why he thinks stock and bond prices have both "plateaued."

  • Bill Gross: Financial Industry Is Under Threat     Tuesday, 16 Oct 2012 | 3:10 PM ET

    Bill Gross, PIMCO, explains what the shakeup at Citi means for the overall financial sector and the market. "The financial industry is under threat here simply because the yield on their assets is moving down, and the cost of their borrowing can't move much lower," he explains.

  • Vikram Pandit

    Vikram Pandit denied that he was forced out as Citigroup's CEO, telling CNBC Tuesday that it was his decision to step down after five years at the bank and that he had been thinking about it for awhile.

  • Bio Box: Citigroup's departing CEO, Vikram Pandit Tuesday, 16 Oct 2012 | 2:19 PM ET

    CAREER: Pandit joined Morgan Stanley as an associate in 1983. Seven years later, he was named head of Morgan Stanley's U.S. stock business. In 2005 he left Morgan Stanley and a year later helped found a hedge fund, Old Lane. Citigroup bought the fund in April 2007 and fast-tracked him to replace Charles Prince as CEO in December of that year.

  • Cramer on Pandit's Exit     Tuesday, 16 Oct 2012 | 2:15 PM ET

    Jim Cramer shares his view on Vikram Pandit's sudden departure from Citigroup.

  • Pandit's Legacy     Tuesday, 16 Oct 2012 | 1:55 PM ET

    Neil Weinberg, American Banker, and CNBC's Bob Pisani, discuss what Vikram Pandit will be remembered for at Citi.

  • Wilbur Ross: Banks ‘Too Complex to Manage’ Tuesday, 16 Oct 2012 | 1:46 PM ET

    In the wake of a major leadership shift Citigroup, billionaire investor Wilbur Ross said Tuesday that banks have become “too complex to manage” and will probably return to a simpler business model.