Vikram Pandit

Citigroup awards $6.65 million to Vikram Pandit

Citigroup awards $6.65 million to Vikram PanditThe board of global financial giant, Citigroup has approved an award of $6.65 million to Vikram S. Pandit, which was unexpectedly resigned from the company in the previous month.

The board awarded the amount for the former chief executive as part of an "incentive" package for his work during 2012. The bank has also decided to pay a similar amount to former Chief Operating Officer John Havens. The bank said that the new incentive is to reflect the progress the bank made in 2012 and work they did in some earlier years.

Vikram Pandit stands to forfeit $33M from a retention package

Vikram Pandit stands to forfeit $33M from a retention packageVikram Pandit, who recently resigned as Citigroup's chief executive officer amid board tensions, may have to forgo nearly $33 million in cash & stock from a retention package.

Mr. Pandit was to get $19 million via a profit-sharing agreement, deferred stock worth around $9 million and optional stock worth $4.6 million, according to the company's terms of a May last year regulatory filing.

Mukesh Ambani expects Indian economy to reach $5 trillion

Chairman of India's leading conglomerate Reliance Industries, Mukesh Ambani is highly optimistic about economic growth in India. In a recent conference, he gave his opinion about the future and Indian economy and said Indian economy would reach a whooping $5 trillion mark by 2022-2025.

ICICI Bank chairman, K V Kamath has also positive thoughts about Indian economy. He also said India would be $5 trillion economy by 2022. These business leaders, among others, gathered at Institute of International Finance (IIF) to attend a discussion.

Speaking at the discussion meeting, Mukesh Ambani said, "India will be a USD 5 trillion economy by 2022-25. There can be a debate whether it would 2022 or 2025."

Pandit expects more jobs soon

Citigroup chief executive officer Vikram Pandit is on a short visit to India. His visit comes at a time when global financial and banking giant is seeking to restructure its work adopting a "back-to-banking" policy and targeting emerging economies like India and China.

He recently made an appearance on business channel, CNBC-TV18, where he revealed some of policies he brought about in the bank's core departments. When he was asked about his interest in targeting India as part of bank's growth strategy he said bank can do much better in India.

Pandit shows gratitude towards taxpayers, panel exchange barbs over ‘too-big-to-fail’

Pandit shows gratitude towards taxpayers, panel exchange barbs over ‘too-big-to-fail’Citi's, CEO Vikram Pandit extended his heartfelt gratitude to US taxpayers for the $45 billion gift the bank got in 2008 that helped save the company. "This investment built a bridge over the crisis to a sound footing on the other side, and it came from the American people," Pandit told the panel responsible for overseeing the government's aid.

Vikran Pandit stays at Citi with $1 annual salary

Vikran Pandit stays at Citi with $1 annual salaryWashington, Nov 18 - Banking giant Citigroup's Indian-American Chief Executive Vikram Pandit will continue to work for an annual salary of $1 even as the group raised the annual base salary for two of its executives.

Pandit who in January voluntarily agreed to accept $1 per year until the bank returned to profitability, also didn't receive stock awards, according to a filing with the Securities and Exchange Commission on Tuesday.

Vikram Pandit's Citi records $101 million profit on recovery road

Vikram Pandit's Citi records $101 million profit on recovery roadWashington, Oct 16 - The Citigroup led by its Indian American chief executive Vikram Pandit has reported a slim profit of just $101 million in the third quarter, indicating its road to recovery may be a little longer.

With credit problems, particularly within its consumer-related businesses, weighing down its third-quarter results and after taking into account the recent conversion of part of the government's preferred stake in the company into common stock, the New York-based bank Thursday reported a loss of 27 cents a share.

US Govt. may axe Citigroup’s Indian American CEO Pandit

US Govt. may axe Citigroup’s Indian American CEO PanditWashington, Apr 25 : The US Government is considering axing Citigroup's Indian American CEO Vikram Pandit, according to media reports.

The government is also set to release the results of its stress tests analysing 19 financial firms.

Citigroup, which has received or been guaranteed 50 billion dollars in government aid through the Troubled Asset Relief Program, has been stirring up a lot of questions about its health.




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