Swimming not drowning

Swimming not drowning

Bond market has ability to adapt

Iran's pivotal moment

Iran's pivotal moment

Tehran is at a crossroads…

2010 Awards for excellence Banker of the year: Vikram Pandit

Pandit knocks Citi into shape


For a man who was supposedly doomed to fail, Vikram Pandit has done a pretty good job in transforming Citigroup. Few, if any, bank chief executives have faced a tougher set of challenges over the past two years or been the subject of as much criticism. He has come through many battles, and has many more to come. But perhaps it’s time to start giving Pandit some credit. Clive Horwood reports.

"BEING A SUPERMARKET is not a strategy."

That simple sentence sums up everything that went wrong with Citigroup, and everything that Vikram Pandit is trying to do to make Citi one of the world’s best banks again.

Citi isn’t back just yet, but it’s on its way. First-quarter 2010 earnings, announced in mid-April, were some of the most impressive in the industry. Citigroup produced net income of $4.1 billion. Compare that with Bank of America,...


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Final days of Ricardo Salgado and Banco Espírito Santo

Euromoney Pulse Survey: Renminbi’s internationalization continues apace
When BES collapsed earlier this year, markets briefly feared a return of the crisis to Portugal and to Europe. Even after the bank's bailout, investigators still pore over bank documents, transfers and deals, trying to make sense of Salgado’s last days battling to keep his empire afloat. The backstory is of an extraordinary decades-long rivalry between the country's two pre-eminent business families.