Vikram Pandit, the CEO of Citigroup Inc. the words largest financial service network, resigned from his post on 16 October 2012 a day after the company reported its earnings in Q3 to be stronger than that expected. Michael L Corbat head of bank’s European and Middle East Division would now be the new CEO for the firm.
Vikram Pandit served Citigroup as a CEO from 2007 to 2012 and before this in the year 2006 he formed Old Lane Capital, a hedge-fund group that was acquired by Citigroup for $600 million. He also served Morgan Stanley as its chief operating officer in between the year 2000 to 2005.
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