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Citi groups more trouble ahead..

by pankaj kumar | January 15, 2009 at 03:18 am

205 views | 25 Recommendations | 8 comments

Citigroup is looking to find safe pasge to sail themselves in the coridors of uncertainty .The high profile finencial gint looking forward to restucture their board sooner.The conomy is sitll under the slump and no hope for financials .Some company filing chapter 11,and some crying for capital but still credit crunch is far from over.

Citigroup may soon restructure its board as well as its operations, sources have told CNBC.

CEO Vikram Pandit plans to announce further steps on Friday to shed assets as the bank moves away from the financial supermarket model it followed for the past decade, sources said. The announcement will be made to analysts after Citigroup reports fourth-quarter results that morning, nearly a week ahead of time.

In addition, Citigroup is discussing a shakeup of its board where several current members are replaced, sources said.

There has been widespread speculation that Chairman Win Bischoff may not hold that post much longer. But sources said other board members are vulnerable as well.

The expected moves come as Citigroup contends with mounting losses and a plunging stock price

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Amitjha

at 04:05 on January 15th, 2009

hope city will not chage into a dead city.

jiwant

at 04:12 on January 15th, 2009

City is too big to fall but the division is ahead.

pankaj kumar

at 04:25 on January 15th, 2009

I agree with your openion because strategic division can make Pandit job easier to keep citi on track,citi has started their assrt selling activity.

pankaj kumar

at 04:18 on January 15th, 2009

Citi is one of the most high profile Finencial wizard who known worldwide for their crediblity.They are operating in almost all developed and developing country .They should devide their business to survive ,and remove the TOXIC asets from their prime asets .

pankaj kumar

at 04:28 on January 15th, 2009

Dont worry citi never sleeps .Then how they can sleeps in crisis they wil come out of wood sooner or later.

Dave Keating

at 05:08 on January 15th, 2009

I suspect Citigroup is heading toward a dividing-up

pankaj kumar

at 05:30 on January 15th, 2009

Till now citi is reluctant to do so but now they have stated thiking on various option to save their position.Many expert are sugesting them from many year to divide their business so in this crisis time their is strong possiblity,that new board wil think on that.

Edmund Jenks

at 07:22 on January 15th, 2009

Lawmakers vetting the nomination of Timothy F. Geithner to serve as Treasury secretary say they may never be sure ... but leading Republicans nonetheless joined Democrats in leaping to his defense yesterday, calling Geithner's tax gaffes small potatoes compared with his qualifications for saving the global economy.

Correct me if I am wrong ... but isn't CITI Group where Geithner came from and wasn't he instrumental in negotiating a large bailout of CITI by the US Taxpayers?

And ... How did that work out?