![]() Senior executives were mostly stunned by Pandit’s departure. Pandit has been involved in some high-profile snafus this year, including the bank’s sale of the remaining stake of its retail brokerage business to Morgan Stanley at a loss. ![]() ![]() Multiple sources within and outside the bank said Pandit’s departure followed months of tension with Chairman Michael O’Neill over a range of issues, including compensation and the role of Chief Operating Officer John Havens. Pandit told Reuters the decision to leave was his own and that he had been contemplating the move for some time. The bank’s board of directors named Michael Corbat as Citigroup’s new CEO. Citigroup's CEO Vikram Pandit gives an interview on the floor of the New York Stock Exchange in this Jfile photograph.
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