Report: Pandit Favored For Top Job At Citi

Dec 3 2007 | 1:29pm ET

Former hedge fund manager Vikram Pandit is the leading candidate to head Citigroup, and could be named to the top job within a week.

The New York Times reports that Pandit, who joined Citi seven months ago when it bought his Old Lane hedge fund for about $800 million, has seen his support in the four-member search committee rise, although the paper called the search “difficult,” adding that “no clear choice has emerged” to take the reins at troubled financial giant.

Pandit currently heads Citi’s alternative investments and investment banking operations. Prior to joining the firm, he was a top executive at Morgan Stanley frequently mentioned as a potential future CEO.

According to the Times, should Pandit succeed Charles Prince, who was forced out last month, Chairman Robert Rubin would likely remain in his post for some time longer. Rubin had said he expected to step down when a new leadership team was selected.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...