O’Neill Says ‘Categorically No’ That Pandit Departed Over Pay

Michael O’Neill, the chairman of Citigroup Inc., said the departure of Chief Executive Officer Vikram Pandit wasn’t tied to compensation.

“Let me start with pay, the answer to that is categorically no,” O’Neill said today on a conference call held by the New York-based bank when asked about the reason for Pandit’s departure.

To contact the reporter on this story: Donal Griffin in New York at dgriffin10@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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