GO
Loading...

Citi needs stable management team: Bove

Outspoken bank analyst Richard Bove of Rafferty Capital says Citigroup's latest round of problems partly stems from having too many CEOs leading the bank over the past decade.

It comes after news Thursday that the U.S. government is investigating allegations of fraud at Citi's offices in Mexico City.

"What I would like to see is a stable management team. I don't think any managers should be fired. They should all stay in place and learn how to do their jobs," said Bove. "It (Citi) needs a clear vision which it does not have ... I don't want to buy a stock where the revenue growth just doesn't exist."

Last week on "Fast Money," Bove warned Mexico could spell bigger problems for the firm than failing the latest round of bank stress tests.

—By CNBC's Stephanie Landsman.

Symbol
Price
 
Change
%Change
C
---

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET

Halftime Report