New Financial Officer for CitiGroup / Bradley Associates
After the banking crisis where we nearly saw a complete meltdown of the banking sector the CitiGroup has started its biggest management shake since the crisis begun.
MADRID, SPAIN, January 08, 2011
Bradley Associates reporting from the US on the current banking crisis.After the banking crisis where we nearly saw a complete meltdown of the banking sector the CitiGroup has started its biggest management shake since the crisis begun.
They have replaced their Financial Officer and are ready to appoint a new banking chief. Bradley Associates analysts believe this shake up is down to the government owning 34 percent and will want a major say that is appointed in key positions within the company.
The ousted executive was warned about performance and was under huge pressure to make sure that the bank got back on its feet. However shareholders where not happy with the performance and have now appointed Vikram Pandit to improve the company. Bradley Associates analysts explain Vikram is under huge amounts of pressure to turn the company around, his primary concern will be to rid the toxic debts from the company.
CitiGroup has been slow to appoint someone to take on this challenge but it will be interesting to see how the company will work with the government, it being a major shareholder.
Bradley Associates explain that Vikram has come with a strong reputation and if anyone one can turn a company around he can. The first few months will be testing times for Vikram but he is know in the industry to take on huge tasks and to executes them with consummate ease.
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