Vikram Pandit New CEO of Citi?

Discussion in 'Wall St. News' started by WallstYouth, Apr 12, 2007.

  1. Hedge fund boss Vikram Pandit, 50, the former Morgan Stanley president, is being aggressively courted by Prince, who is said to be offering as much as $600 million to lure Pandit and his Old Lane Management hedge fund to Citi. The nine-figure amount has raised eyebrows among many people on Wall Street, who think Prince would be grossly overpaying if he shelled out that much.

    Pandit, who's highly regarded on Wall Street and was in line to lead Morgan Stanley, could shake up a succession fight that already has several people in the executive suite vying for Prince's post.

  2. Interesting, interesting. Also heard that Smith-Barney might be sold. Guess it's their only profitable division - they need to make money somewhere