The Low-Down on Citigroup's Managment
If there's one thing that bank investors can take away from the terrible experience of the financial meltdown, it's that management is a very big deal. Banks like Wells Fargo and JPMorgan Chase took a more conservative approach to the market in the pre-crisis days, and that paid off as they didn't face the massive losses that competitors did. With the clear exception of JPMorgan's "London Whale" debacle, both banks are nicely positioned today.
Meanwhile, Bank of America's crisis-era management -- with Ken Lewis at the helm -- arranged the disastrous acquisitions of Countrywide and Merrill Lynch. Both buys have "paid off" in the form of credit-related losses and seemingly unending lawsuits.
With this in mind, what should investors make of Citigroup's current management? There's a fresh face in the CEO spot with Michael Corbat recently taking over for Vikram Pandit. Is that good news? In the video below, I discuss Citi's management picture in greater detail.
To dig in deeper on Citigroup, and figure out how management impacts whether Citigroup's stock is a buy or a sell today, I invite you to read our premium research report on the bank today. Click here now for instant access.
The article The Low-Down on Citigroup's Managment originally appeared on Fool.com.Fool contributor Matt Koppenheffer owns shares of Bank of America. The Motley Fool owns shares of Bank of America, Bank of Hawaii, Citigroup, JPMorgan Chase, and Wells Fargo. Motley Fool newsletter services recommend Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.