Citigroup Execs Tried to ‘Lessen the Pain’ of $900 Million Error
- Chats among employees detail the push to recover Revlon funds
- ‘It would be good to get at least half back by tomorrow’
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Two days after one of his employees mistakenly approved a $900 million payment to a group of Revlon Inc. lenders, Citigroup Inc. executive Vincent Farrell was looking to report some good news about the bank’s recovery effort.
“Quick update, just crossed the 100MM mark,” Farrell, head of North American loan operations, said in an instant message to his boss.