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Stocks close near peak for the week ... Citigroup to change executive pay process ... In China, R&D grew in 2012 ... Retail weak in Canada in December ... News from United Press International.

Citigroup to change executive pay process

NEW YORK, Feb. 22 (UPI) -- U.S. financial behemoth Citigroup is changing its executive compensation formula in response to disgruntled shareholders, a regulatory filing said.

Citigroup to cut 11,000 jobs

NEW YORK, Dec. 5 (UPI) -- U.S. financial giant Citigroup said it would shutter dozens of branch offices and cut 11,000 jobs in an effort to trim operation expenses.

Citigroup pays fired executives millions

NEW YORK, Nov. 10 (UPI) -- U.S. banking giant Citigroup said it would pay its recently fired Chief Executive Officer Vikram Pandit $6.65 million as a bonus for his work in 2012.

CEO departures rose in October

CHICAGO, Nov. 7 (UPI) -- Chief executive officer turnover rose in October to 108, the second-highest monthly total for 2012, a Chicago outplacement firm reported Wednesday.
Citigroup CEO steps down

Citigroup CEO steps down

NEW YORK, Oct. 16 (UPI) -- Vikram Pandit, the chief executive officer of Citigroup Inc., is stepping down effective immediately, the bank's board said Tuesday.

CEO says Citigroup is going back to basics

NEW YORK, Aug. 21 (UPI) -- Citigroup Chief Executive Officer Vikram Pandit said emerging markets, including business in China, would be the focus of the bank's growth.

Shareholders confront Deutsche Bank board

FRANKFURT, Germany, April 24 (UPI) -- An investor group at Deutsche Bank said it was trying to send a message for the German firm's board to make changes in executive searches and top-tier pay.

Rep. Frank proud of shareholder revolt

BOSTON, April 20 (UPI) -- Rep. Barney Frank, D-Mass., said shareholders at Citigroup would likely spur shareholders elsewhere to reject excessive executive pay packages.
Bloomberg: 'Occupy' park cleaning Friday

Bloomberg: 'Occupy' park cleaning Friday

NEW YORK, Oct. 13 (UPI) -- New York Mayor Michael Bloomberg said "Occupy Wall Street" protesters in Zuccotti Park should prepare for the site to be cleaned Friday.

Citigroup names John Havens COO

NEW YORK, Jan. 19 (UPI) -- U.S. banking giant Citigroup named John Havens as its president and chief operating officer Wednesday to serve under Chief Executive Officer Vikram Pandit.
Citigroup names head of consumer banking

Citigroup names head of consumer banking

NEW YORK, Jan. 11 (UPI) -- U.S. banking corporation Citigroup Monday appointed Manuel Medina-Mora head of consumer banking for the Americans and chairman of the Global Consumer Council.
Wells Fargo, Citigroup in TARP payback

Wells Fargo, Citigroup in TARP payback

WASHINGTON, Dec. 14 (UPI) -- Wells Fargo & Co. said Monday it will repay $25 billion it borrowed from the U.S. Treasury under last year's bank bailout program.
Citigroup names Parsons as next chairman

Citigroup names Parsons as next chairman

NEW YORK, Jan. 21 (UPI) -- Struggling U.S. financial firm Citigroup Inc. has named former Time Warner chairman Richard Parsons to serve as its next chairman.

Citigroup cuts executive bonuses

NEW YORK, Jan. 2 (UPI) -- Citigroup Inc. said it sharply trimmed its executive bonuses for 2008 in keeping with agreements made when it accepted $45 billion from the U.S. government.
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Vikram Pandit
Vikram Pandit of Citi (R) speaks to an aide as he joins executives from the financial institutions who received TARP funds testifying before the House Financial Services Committee about how the the Troubled Asset Relief Program (TARP) funds were used on Capitol Hill in Washington on February 11, 2009. (UPI Photo/Roger L. Wollenberg)

Vikram Pandit (Marathi: विक्रम पंडित) (born January 14, 1957 in Nagpur) is the current CEO of Citigroup.

Vikram Pandit was born in Nagpur, India, to an affluent Maharashtrian family. His father, S B Pandit, was an executive director at Sarabhai Chemicals in Baroda.

He completed his schooling at the Dadar Parsee Youths Assembly High School in Dadar, Mumbai. He moved to the United States when he was sixteen years old, to study at Gannon University. He received a B.S. and M.S. in electrical engineering from Columbia School of Engineering and Applied Science in 1976 and 1977 respectively and an M.B.A in 1980 followed by a Ph.D. in Finance from Columbia Business School in 1986. He is a trustee at Columbia University.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Vikram Pandit."
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