Pandit Launches Consulting Firm

Feb 21 2014 | 10:52am ET

Former Citigroup CEO and hedge fund founder Vikram Pandit has started a consulting firm, offering help to banks in need.

The new firm, TGG, features Pandit, who founded and led hedge fund Old Lane Partners before joining Citi; Hamid Biglari, one of his former deputies at the bank; former Morgan Stanley banker Charles Stonehill; Steven Levitt, the University of Chicago professor behind the "Freakonomics" book series; and Nobel Prize-winner Daniel Kahneman.

TGG—which shares its initials with The Greatest Good, the Chicago consultancy led by Levitt and Kahneman—offers "a novel approach to address the challenges that large complex organizations face in compliance, fraud, corruption, and culture and reputation," Biglari wrote in an e-mail to Deutsche Bank executives obtained by The Wall Street Journal. "We think the results are transformative for companies looking to create a culture of performance and integrity."

Pandit does not shy from his experience at Citi, in spite of his unceremonious ouster from the bank. Biglari cited his and Pandit's "domaine expertise" at the bank. The two offered to meet the Deutsche executives in Frankfurt or London; it is unclear whether the meeting took place.

TGG is based in New York. According to the Journal, the planned partnership with The Greatest Good has not been finalized.

Pandit has explored a number business opportunities since his exit from Citi in 2012, including peer-to-peer lending and private equity.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR