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Pandit May Retool Citi
Updated from 3:02 p.m. EST
Freshly-minted Citigroup(C Quote) CEO Vikram Pandit may have the toughest task ahead of him as he tries to right Citi's beleaguered ship: breaking up the bank.
The new chief suggested that his first act may be restructuring the behemoth organization to a more manageable level, after ousted CEO Charles Prince saw Citi run into massive losses on esoteric mortgage-backed securities.
"I will undertake an objective and dispassionate review of all the businesses individually and in aggregate," Pandit said Tuesday evening, during his first analyst call after being named CEO. "The goal is to drive profitability, which in turn drives shareholder returns." ...
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