Citigroup CEO Vikram Pandit Resigns, Shocks Wall Street
Description:Citigroup Inc Chief Executive Vikram Pandit resigned abruptly on Tuesday (October 16), effective immediately, shocking Wall Street.
Pandit resigned from Citigroup, the No. 3 U.S. bank, just one day after a surprisingly strong quarterly earnings report.
Analysts and investors quickly raised red flags about the timing, saying it did not appear to be a natural transition and rather suggested some sort of dispute at the bank.
But Citigroup shares rose 1.5 percent in morning trading as some invest(1:07)