Making more credible market share gains in trading and investment banking might be a course of action for Corbat.
3. When will Citigroup return capital to shareholders: On this last metric, Pandit clearly over-promised and under-delivered.
Earlier this year, the Federal Reserve determined that the bank would not be able to sustain a severe shock to the economy if it pursued an aggressive buyback plan. This came as a surprise to Pandit, who had assured shareholders that the bank was in a position to return capital.
The management maintained in their earnings conference call Monday that they are well placed to return significant capital in the future, though Pandit this time cautiously refrained from making any promises for 2013.
Oppenheimer analyst Chris Kotowski speculates in a report Tuesday that it is possible the board decided that "Pandit's relationship with regulators was too strained and that they would increase the chance of substantial capital returns in next year's CCAR process with his departure."
Perhaps with a new CEO at the helm with a reputation for prudent risk management, the bank will have a shot with the regulators.
All index data provided on a 15 minute delay.