Citigroup’s Pandit Says He Wouldn’t Do Anything Different
Vikram Pandit, who stepped down today as Citigroup Inc. (C)’s chief executive officer, said he doesn’t regret any decisions from his tenure running the bank.
“It’s hard to come up with things we should have done differently,” said Pandit, 55, in an off-camera interview for Bloomberg Television’s “Lunch Money,” recalling how he navigated the New York-based bank through the credit crisis. “I was first out of the box to raise capital. I feel very good about the decisions that we’ve made.”
Pandit said he decided yesterday to leave after turning the company around. He spoke with Citigroup Chairman Michael O’Neill, 65, and didn’t want to linger and second-guess his replacement as CEO, Michael Corbat, 52.
“I’ve been thinking about this for a long time,” Pandit said. “It was my decision. I made it talking to Mr. O’Neill, and we did it understanding that the company was ready.”
To contact the reporter on this story: Erik Schatzker in New York at eschatzker@bloomberg.net
To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net
Citigroup’s Pandit Says He Wouldn’t Do Anything Differently
Simon Dawson/Bloomberg
Vikram Pandit, who stepped down today as Citigroup Inc.’s chief executive officer, said he wouldn’t have done anything differently during his tenure running the bank.
Vikram Pandit, who stepped down today as Citigroup Inc.’s chief executive officer, said he wouldn’t have done anything differently during his tenure running the bank. Photographer: Simon Dawson/Bloomberg
Oct. 16 (Bloomberg) -- Former Federal Deposit Insurance Corp. Chairman Sheila Bair, former Securities and Exchange Commission Chairman Arthur Levitt and Bloomberg View columnist William Cohan speak about Vikram Pandit's departure as Citigroup Inc.'s chief executive officer. Pandit will be replaced by Michael Corbat. This report also includes comments from Neil Barofsky, former special inspector for the Troubled Asset Relief Program, Mohamed El-Erian of Pacific Investment Management Co., Thomas Brown of Second Curve Capital LLC and Chris Whalen of Tangent Capital Partners. (Source: Bloomberg)
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