A Daunting To-Do List for Citigroup's New CEO
What Citigroup’s new CEO must do to get the bank back on track
This article is for subscribers only.
Michael Corbat, congratulations on becoming the new chief executive officer of Citigroup! Here is a list of about 6 billion things that require your immediate attention.
Corbat, 52, replaced Vikram Pandit just one day after Citigroup reported better-than-expected quarterly earnings, leading some analysts to say that the nation’s third-largest bank by assets had turned a corner. Even so, in a measure of just how much repair work looms for Corbat, the bank’s share price is still 89 percent less than it was the day Pandit took the reins in 2007.