In its ongoing strategy of divesting of its Japanese assets, Citigroup (NYSE:C) will sell its shares in Monex Group Inc.
The sell of the 503,250 shares will reduce the stake of Citigroup in Monex from 20.6 percent to 3.6 percent, according to a Monex statement.
Citi did say they'll continue to look for retail opportunities with Monex as it continues to exit the brokerage business.
The price of the shares will be determined by Monex sometime from October 4 to October 7
Chief Executive Officer Vikram Pandit said in 2009 after writedown and credit losses of over $100 billion, that they were going to focus on banking going forward, rather than the investment banking side.
Showing posts with label Vikram Pandit. Show all posts
Showing posts with label Vikram Pandit. Show all posts
Thursday, September 23, 2010
Monday, June 21, 2010
Citigroup's (NYSE:C) Pandit: Euro Not Going Away
According to Citigroup (NYSE:C) CEO Vikram Pandit, he and the giant bank believes the "euro is here to stay."
Pandit added, "I think we are going to look at this as another one of these issues that we’ve put behind us."
Pandit also offered praise to how the European Union handled the situation, saying it was a "very good job," on Bloomberg television.
What was the good job? They simply through money at it to the tune of $975 billion. What's so great about that?
But then again we must consider the source, as Pandit was at the helm of Citigroup as it had to get taxpayer dollars in order to survive. So the idea to throwing money at problems is about all big bankers like Pandit can see as a solution to challenges like these.
Many analysts and investors believe the euro can't survive this crisis because Europe refused to defend it by allowing the situation to play out in the countries, showing them they were serious about adhering to the financial rules of the EU.
The euro of course won't immediately fail, but definitely could sometime in the next decade or so.
Pandit added, "I think we are going to look at this as another one of these issues that we’ve put behind us."
Pandit also offered praise to how the European Union handled the situation, saying it was a "very good job," on Bloomberg television.
What was the good job? They simply through money at it to the tune of $975 billion. What's so great about that?
But then again we must consider the source, as Pandit was at the helm of Citigroup as it had to get taxpayer dollars in order to survive. So the idea to throwing money at problems is about all big bankers like Pandit can see as a solution to challenges like these.
Many analysts and investors believe the euro can't survive this crisis because Europe refused to defend it by allowing the situation to play out in the countries, showing them they were serious about adhering to the financial rules of the EU.
The euro of course won't immediately fail, but definitely could sometime in the next decade or so.
Subscribe to:
Posts (Atom)