Items Tagged with 'Gary Crittenden'

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  • Citi Shuffles Executives in Restructuring Efforts

    Citigroup Inc. [stock C][/stock] announced Friday it will move Gary Crittenden from the role  of chief financial officer of Citi to chairman of Citi Holdings, the branch the bank plans to split off from its core business. In the new role, Crittenden will work to "optimize the value of the businesses" of the unit, which represents a significant portion of Citi's assets, bank officials said in a media statement.
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  • Top Citi Executives Decline Retention and Incentive Awards

    Citigroup Inc. [stock C][/stock] CEO Vikram Pandit, along with chairman Winfried Bischoff and CFO Gary Crittenden, declined retention and incentive awards, according to a recent filing through the Securities and Exchange Commission. The announcement came in concert with recent statements that Pandit and Bischoff -- along with Robert Rubin, who ended up resigning in early January, anyway -- would take no bonuses for 2008.
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  • Citi's Pandit: 'Turbulent Times'

    Citigroup Inc. [stock C][/stock] CEO Vikram Pandit moved to perhaps instill some confidence in the company's likely rattled employee base on Monday, and sent out an internal email highlighting the bank's efforts thus far to weather the storm. It was a message to investors as much as to employees.
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  • Citigroup Paring Back on Mortgages; Will Shed $500 Billion in Non-Core Assets

    Citigroup Inc. [stock C][/stock] said Friday that it will reduce so-called non-core assets by $500 billion over the next several years as the banking and financial services giant looks to reel in its capital base and divest of riskier assets. The news comes as part of the company's investor day, and as CEO Vikram Pandit looks to reshape the ailing giant.
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  • Citi Reports; It Doesn't Look Like Purging is Over Just Yet

    Citigroup reported its third quarter earnings today, and as expected, was hit hard by problems in the mortgage market -- recording $3 billion in losses in its fixed income business. The bank said it absorbed a 44 percent decline in its securities and banking business, including $1.35 billion on loan commitments, $1.56 billion on mortgage-related losses, and $636 million due to credit deterioration. Click here to see the full earnings release.
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