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Vikram Pandit - CNBC

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  • 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.

  • Yahoo Poll: Citi Shake-Up Good for Stock?     Tuesday, 16 Oct 2012 | 1:41 PM ET

    On today's Yahoo! Finance Poll, viewers answered the question "Why do you think Citigroup CEO Vikram Pandit is leaving." CNBC's Sue Herera reports 45 percent say "something's fishy."

  • Shake-Up at Citi: What Really Happened     Tuesday, 16 Oct 2012 | 1:00 PM ET

    After five years at the helm of one of Wall Street's biggest and most challenged banks, Vikram Pandit is out as CEO, reports CNBC's Kayla Tausche. Neil Weinberg, American Banker, weighs in.

  • Pandit Tells Maria He Decided It's 'Right Time'     Tuesday, 16 Oct 2012 | 12:52 PM ET

    CNBC's Maria Bartiromo recounts a telephone interview she just concluded with outgoing Citigroup CEO Vikram Pandit. Contrary to reports he had been ousted by Citi's board, Pandit told Maria he made the decision because he felt it was the "right time" to go. Maria says she believes the exit was prompted by a compensation dispute.

  • Wilbur Ross on Financials, Energy     Tuesday, 16 Oct 2012 | 12:45 PM ET

    Wilbur Ross, WL Ross & Co., offers his take on the financials in light of Vikram Pandit's departure at Citigroup. He also shares thoughts on energy.

  • FMHR Top Three Trades     Tuesday, 16 Oct 2012 | 12:41 PM ET

    The FMHR traders reveal their top three trades. And Wilbur Ross, WL Ross & Co., weighs in on Vikram Pandit's exit from Citigroup.

  • Why I’m Buying Citi After Pandit’s Exit: Weiss Tuesday, 16 Oct 2012 | 12:24 PM ET

    A change in Citigroup leadership provided the all-clear signal for investors, Stephen Weiss of Short Hills Capital said Tuesday on CNBC.

  • Wien: Pandit 'Competent Person'     Tuesday, 16 Oct 2012 | 12:15 PM ET

    Byron Wien, Blackstone Advisory Partners, says Vikram took Citigroup from the brink and brought it back. "He's a very competent person; I don't know what happened here," he said.

  • Michael Corbat's Memo to Citi Tuesday, 16 Oct 2012 | 12:13 PM ET

    Michael Corbat's memo to Citi.

  • Why I Bought Citi on Pandit Exit: Weiss     Tuesday, 16 Oct 2012 | 12:00 PM ET

    Stephen Weiss, Short Hills Capital Partners, explains why he bought Citi on news that Vikram Pandit was stepping down as CEO. Gerard Cassidy, RBC Capital, and Timothy Ghrisky, Solaris Asset Management, also weigh in.

  • Pandit's Farewell Memo to Citigroup Employees Tuesday, 16 Oct 2012 | 11:48 AM ET
    Vikram Pandit

    The following is a memo sent to Citigroup employees by departing CEO Vikram Pandit.

  • Key moments in Pandit's tenure as CEO of Citigroup Tuesday, 16 Oct 2012 | 11:48 AM ET

    Vikram Pandit stepped down Tuesday as CEO of Citigroup. _ April 2007: Old Lane hedge fund, which Pandit formed a year earlier, is acquired by Citi for $800 million. _ September 2008: Citi announces it will buy the struggling bank Wachovia at the height of the financial crisis.

  • Pandit Resignation Was His Decision: Source     Tuesday, 16 Oct 2012 | 11:40 AM ET

    "Changes at the top always involve risk," said David Trone, JMP Securities, weighing in on the impact of Pandit's departure on the company's stock.

  • Pandit Out, Citi Stock Up     Tuesday, 16 Oct 2012 | 11:35 AM ET

    Reviewing Citi's stock after the announcement of Pandit's departure, with CNBC's Gary Kaminsky, and a look at Citi's new CEO, Michael Corbat, with CNBC's Michelle Caruso-Cabrera. Also, CNBC's Bob Pisani with an update on Citi's compensation plan.

  • CNBC's Philj LeBeau reports the bankruptcy filing comes after the company was unable to make a $2.8 million interest payment.

  • Stocks higher on 3Q profits; Mattel jumps Tuesday, 16 Oct 2012 | 11:26 AM ET

    Inflation is low, earnings are high, investors are happy. Results at Mattel, Goldman Sachs, and Johnson& Johnson were all above expectations. Also Tuesday, the Labor Department said consumer prices rose just 0.1 percent last month, not counting food and energy costs.