WHEN: Tuesday, December 11th at 5:00PM ET
WHERE: "Fast Money"
The following is the unofficial transcript of a First on CNBC interview with the new Citigroup CEO Vikram Pandit on CNBC's "Fast Money" today. All references must be sourced to CNBC.
In a FIRST ON CNBC interivew, CNBC's Erin Burnett speaks with the new Citigroup CEO Vikram Pandit about a broad range of topics including his new position as head of Citigroup, whether there will be job cuts or more writedowns at the company, the Fed and the Middle East investment in Citigroup, among other topics.
ERIN: WE ARE HERE FIRST IN THE TELEVISION INTERVIEW WITH THE NEW CEO OF CITIGROUP. THANK YOU MR. PANDIT WE APPRECIATE YOUR BEING WITH US. CONGRATULATIONS ON THE NEW JOB. I HAVE TO ASK YOU THE FIRST QUESTION, AND THIS IS A JOB THATWE HAVE ASKED MANY PEOPLE OVER THE PAST FEW WEEKS WHETHER THEY WOULD WANT WE HAVE GOTTEN ANSWERS RANGING FROM POLITE NO TO I WOULDN'T TOUCH WIT A 1,000-FOOT POLE AND WHY DO YOU WANT IT?
PANDIT: WELL, ERIN, IT IS ONE OF THE WORLD'S GREATEST FINANCIAL INSTITUTIONS AND THE BRAND AND THE PRESENCE AROUND THE WORLD AND IT HAS ENORMOUS CAPABILITIES AND WHEN YOU LOOK AT THE FUTURE OF THE FINANCIAL SERVICES AND TAKE IT OFF TO THE DISORGANIZATION THAT THE ORGANIZATION HAS, THE OPPORTUNITIES ARE TREMENDOUS AND THE FUTURE AHEAD OF US IS PUTTING ONE OF THE TWO TOGETHER AND MAKING SOMETHING GOOD HAPPEN OUT OF IT. I AM EXCITED TO BE A PART OF IT.
ERIN: YOU SAID YOU HAVE BEEN HERE SIX MONTHS, RIGHT?
ERIN: IT IS AN INCREDIBLE RISE. DID YOU EVER EVER DREAM OF THIS JOB?
PANDIT: NOT WHEN I STARTED.I DID NOT DREAM OF THIS JOB. BUT I AM DELIGHTED TO BE HERE.I AM LOOKING FORWARD TO THIS.I THINK IT IS CHALLENGING. I THINK IT COULD BE A LOT OF FUN AS WELL.
ERIN: A LOT OF FUN AND A LOT OF SPECULATION ABOUT WHAT MIGHT HAPPEN HERE AT CITIGROUP. RECENT PRESS STORIES HAVE LINKEDCITIGROUP IN WHAT WE WILL CALL THEM HUGE MERGERS WITH THE LIKES OF J.P. MORGAN AND RUN BY A FORMER CITIGROUP MANAGER JAMIE DIAMOND AND BANK OF AMERICA, AND IS EVERYTHING ON THE TABLE?
PANDIT: LOOK, YOU CALLED THEM SPECULATION AND YOU KNOW I WON'TSPECULATE ON ANYTHING.BUT WHAT I DO KNOW IS THAT THE CORE JOB HERE IS TO LOOK AT THE BUSINESSES AND LOOK AT THEM TO MAKE SURE THEY ARE POSITIONED FOR THE FUTURE AND YOU HAVE TO LOOK AT THEM ONE BY ONE AND TOGETHER AS A GROUP. THAT IS WHAT I AM GOING TO DO.