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Can Pandit save Citibank from doom?

November 19, 2008

Citigroup, the American banking behemoth, is in trouble. . . big trouble. Survival is at stake and Citigroup Inc chief executive Vikram Pandit is fighting with his back to the wall.

With the bank clocking in losses of more than $20 billion, its revenues down by 35 per cent this year and the economic crisis intensifying across the globe, there's little room for manoeuvring at Pandit's disposal. So what does he plan to do? Check out. . .

Image: Morgan Stanley CEO John Mack (left) and Citigroup CEO Vikram Pandit at the US Treasury Department. | Photograph: Mark Wilson/Getty Images

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