The light comes on at Citi

THE PORTFOLIO MANAGER at one of the world’s largest institutional investors, which owns big slugs of Citi’s stock and bonds, momentarily interrupts his analysis of the bank that has been among the worst hit by the crisis. "I saw Vikram Pandit at the airport the other day," he says. So he’s doing a round of investor meetings, Euromoney assumes. "No, Vikram was just standing on line... at USAir." How the mighty are fallen. The chief executive of once the world’s mightiest bank, whose senior executives had the run of a fleet of corporate jets to take them fishing or hastily transport forgotten laser pens, now queues up to fly cattle class on the twice-bankrupt US airline that regularly ranks last in customer satisfaction surveys. Well, good for him, suggests Euromoney. "I don’t think he has much of a choice," the fund manager says....