Thursday, 24 July 2014
Last updated 3 hours ago
Sep 26 2007 | 7:38am ET
At the office in his new job, the going is tough. So Vikram Pandit is spending a small fortune on a not-so-small refuge.
Pandit, the new head of Citi Alternative Investments, has paid $17.9 million for the New York apartment once owned by the actor Tony Randall, famous for his role as Felix Unger in The Odd Couple. The 10-room co-op occupies an entire floor of the famed Beresford apartment building on Central Park West.
“This extraordinary 10-room residence offers outstanding entertainment rooms of grand proportions with magnificent detail,” according to a listing by real estate brokerage The Corcoran Group. “The residence enjoys superb light and impressive park views through 20 windows spanning two exposures.”
Pandit joined Citigroup this year after selling it his Old Lane hedge fund for some $800 million. But it has not been smooth sailing for Pandit at his new job: He was greeted by a nearly 40% drop in CAI profit, and Old Lane, recently enshrined as Citi’s flagship hedge fund, dropped 5.9% in August.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…