Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Push for executive shake-up
Source: Agencies |
June 6, 2009, Saturday
|
Print Edition
Print Edition
THE Federal Deposit Insurance Corp is pressing for a management shake-up at embattled bank Citigroup Inc, putting CEO Vikram Pandit in the hot seat, a report said yesterday.
The report from The Wall Street Journal cited people familiar with the matter.
"We are confident in our management and confident that we will continue to position Citi for a return to sustained profitability," said Chairman Richard Parsons in a statement e-mailed to The Associated Press.
A representative of the FDIC was not immediately available to comment.
Citigroup has been one of the most troubled United States banks in the financial crisis. Investors have long criticized its board and management for allowing the bank to make big investments in the risky housing market - actions that led to Citigroup reporting billions in losses.
Citigroup has already received US$45 billion in government rescue funds, and a portion of that will soon be converted into common shares, making the Treasury Department its largest shareholder.
Last month, the government determined that it would need to raise an additional US$5.5 billion as a buffer against future losses.
The report from The Wall Street Journal cited people familiar with the matter.
"We are confident in our management and confident that we will continue to position Citi for a return to sustained profitability," said Chairman Richard Parsons in a statement e-mailed to The Associated Press.
A representative of the FDIC was not immediately available to comment.
Citigroup has been one of the most troubled United States banks in the financial crisis. Investors have long criticized its board and management for allowing the bank to make big investments in the risky housing market - actions that led to Citigroup reporting billions in losses.
Citigroup has already received US$45 billion in government rescue funds, and a portion of that will soon be converted into common shares, making the Treasury Department its largest shareholder.
Last month, the government determined that it would need to raise an additional US$5.5 billion as a buffer against future losses.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
