Indians are growing into a powerful force at Citigroup, the world’s largest financial services company by assets. Besides the new CEO Vikram Pandit, there are several other Indians holding key positions at Citi. Here’s an alphabetically-drawn list of the Indian Mafia at Citigroup: Shirish Apte Chief Executive Officer, Central & Eastern Europe, Middle East & Africa, […]
Titillating magazine and adult video pioneer Penthouse Media Group has spent $500 million to buy a bunch of social networking web sites with its acquisition of Various Inc and its subsidiaries. Various operates 25 online communities including adultfriendfinder.com, which supposedly has 18 million members. All together, Various is said to have a membership base of […]
Struggling financial services conglomerate Citigroup named Vikram Pandit, 50, as its new CEO and board member effective immediately. Vikram Pandit, who hails from Nagpur in India, was most recently Chief Executive Officer of Citigroup’s Institutional Clients Group, which comprises Citi Markets & Banking and Citi Alternative Investments. For his new job as Citi CEO, Vikram […]
We remember it all as if it happened just yesterday. But it was actually 1992. IBM reentered India through a joint venture with the Indian conglomerate Tata called Tata Information Systems Ltd (subsequently changed to Tata-IBM and later to IBM after Tata and IBM parted ways in 1999). And Mike Klein, the Bullet motorcycle-riding IBM expat, […]
Vikram Pandit is the favorite to be named as CEO of struggling financial giant Citigroup. Reporting that Citigroup would name a CEO soon, the Wall Street Journal (subscription required) said in its Saturday edition: The front-runner is Vikram Pandit, who currently oversees Citigroup’s investment bank and alternative-investments businesses, the people said. That would fill the […]
Reeling from massive losses due to its disastrous missteps in the subprime mortgage segment, embattled financial services giant Citigroup is getting a $7.5 billion cash infusion from Gulf nation Abu Dhabi through a sale of Equity Units convertible into shares. The Abu Dhabi investment is expected to close within the next several days. The badly-needed cash […]