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Preview: Comments on: Meet Professor Pandit

Comments on: Meet Professor Pandit



An up-to-the-minute take on deals and deal makers.



Last Build Date: Fri, 29 Jan 2016 12:02:23 -0500

 



By: MS graduate

Wed, 21 Nov 2007 14:55:47 +0000

If top executives receive $100M + for doing a bad job, or failing to manage risk, or depreciating stock value over time, is there something wrong with the incentive system? Add the exit pay for Purcell, O'Neal and Prince (nearly $400M?). Divide by $16,000 (roughly the average weekly pay in a Wall St. investment bank). How many weeks of investment banking could you buy (imagine that these enable you to build culture, bench strength, succession depth)? Does any of this suggest changes to the way boards manage CEOs (and vice versa)?



By: JoeyZ

Fri, 19 Oct 2007 23:47:03 +0000

Heck, I think Pandit should make a bid for Morgan Stanley and run both Citi and MS! Now that would be a powerhouse!



By: Anonymous

Fri, 19 Oct 2007 23:07:23 +0000

What talent Long time insider.. ? does talent at the highest levels make any difference in consumer banking.. i think it is country management that makes more of a difference than top management. also, what has prince done that made them leave...question to ask is what made them leave?



By: The Epicurean Dealmaker

Sun, 14 Oct 2007 13:58:32 +0000

Beware professors bearing course plans ... http://epicureandealmaker.blogspot.com/2007/10/oxymoron.html TED



By: Anonymous

Fri, 12 Oct 2007 20:06:10 +0000

Tony Randall is dead?



By: TheDow

Fri, 12 Oct 2007 19:29:02 +0000

While the experience of Citi's Board seems quite impressive http://www.newsvisual.com/newsvisual/2007/10/management-expe.html (here's a map of their BOD), the reality is they need some shakeups at Citi, and soon. I don't necessarily think breaking the company up is the answer, micro-managing seems to be the biggest problem to me.



By: Long time insider

Fri, 12 Oct 2007 19:03:47 +0000

The flight of talent is astonishing. In last 12-14 months, all direct reports of international consumer head Ajay Banga have quit. Ashok Vaswani-CEO Asia Pacific, Fritz Seegers - CEO Europe, Faith Massingale - Head of International Cards, Vicki Bindra, Joyce Phillips, Ray Quinlan etc. etc. etc. The names just keep adding on. This is on top of a bunch of executives leaving for Barclays following Fritz Seegers and Antony Jenkins. It seems like a time buying game is on in the name of bringing in fresh talent while getting rid of well trained and widely respected managers. Talk about an attempt to save ones a**. Sooner they let Price go, the better it is for employees and shareholders.



By: Money... Money.... Mooooooney!

Fri, 12 Oct 2007 18:31:01 +0000

Love Citi..., You should go and get a reality ck up ASAP,their own shocked (2.5 yrs in the hole or flat lined groth) share holders are calling for a fresh start, that ought to tell you something! The OZ



By: Love Citi...

Fri, 12 Oct 2007 17:33:51 +0000

Bottom line - the more you micromanage the more talent you will lose. This institution is unique in reaching customers across the globe. It doesnt make sense to break it up. What does make sense is to ensure that Citi responds to each market in its own selective, special way rather than a "one size fits all New York managed approach". Their bright shining start is the emerging markets business - how many of the existing key executives have worked there? Quite frankly none. This company needs empowered local/regional management with senior management that understands the business in international markets.



By: Just a global bystander

Fri, 12 Oct 2007 17:18:16 +0000

There is no need to break up Citi. I know of another global financial services co. that has business in more than 100 countries and continues to operate sucessfully. The key is to have the right people, locally, running the show.



By: Citi shareholders and employee

Fri, 12 Oct 2007 17:13:41 +0000

To the Board & Al-Waleed: Stop wasting time and experimenting. Get M-Kline in the top seat .... we need young blood!



By: I like Citi, but...

Fri, 12 Oct 2007 16:34:13 +0000

Q: Why should banks be valued at anything higher than the book value of their financial assets? A: Because of the value of their human assets. Q: How much effort was involved in training, nurturing and retaining Maheras over the course of two decades? How much value would someone like this represent, who has breathed and built a culture, (in addition to being perceived as talented until last week)? And he is replaced with someone that was bought off the shelf a few months ago for $800 million. Which brings me back to the first question again: if Citi cannot claim any competitive advantage in the way they develop human assets, why should an investor pay the $111 billion excess over book value for which Citi currently trades? (Hint: if you think "the brand" should account for this difference rather than human capital, consider that $111 billion buys 83$ of Coca Cola, without doubt the most valuable brand on the planet.) Opinion: The board should not allow its most valuable assets to be degraded further during the unfortunate death spiral of its current CEO.



By: BamBam

Fri, 12 Oct 2007 16:32:05 +0000

If elevated to the top job, would Pandit consider a breakup? Or would he selfishly cling to his malfunctioning empire the way Prince has done?



By: Just one bond brokers opinion!

Fri, 12 Oct 2007 15:58:27 +0000

I think they should bring in Cramer to replace the Prince of Paupers; at least he'd bring some Mad Money with him? The OZ



By: Ex Banker

Fri, 12 Oct 2007 15:54:38 +0000

Pandit did not exactly get passed over at MS. He was the heir apparent but he refused to pledge allegiance to Purcell (along with others) as the noose began to tighten around Phil's neck. Cruz pledged her allegiance and got the co-pres spot.