What does it take to be the CEO of Citi Group?

The Billion dollar question that was in the Wall Street for more than a month now. What takes it to be the CEO of Citi Group?

Finally the executive board has found the answer. The answer is VIKRAM PANDIT


Now or never for Citi's new CEO

If he wants investors to overlook his flimsy resume, Citi's Vikram Pandit needs to take some radical steps, right now.
By Peter Eavis, Fortune senior writer

New Citi CEO Vikram Pandit will need to act quickly and decisively to reassure investors.

NEW YORK (Fortune) -- Judging by his resume, Vikram Pandit doesn't have the depth of experience to run Citigroup, but with some quick and decisive moves the bank's new CEO could win back many of the investors who've dumped Citi's stock as it fell victim to the credit crunch this year.

What might those moves be? Pandit's agenda will initially be influenced by the immediate severity of bad loan losses and other pressing problems at Citigroup, but within his first month investors will also want a clear indication of where he stands on important longer-term questions, like whether large parts of the bank should be sold off.

Pandit, 50, has been at Citigroup (Charts, Fortune 500) only since July, when the bank bought his hedge fund, Old Lane Partners. Before that, Pandit was at Morgan Stanley, where he won a reputation for his markets savvy. Charles Prince, Citigroup's previous permanent CEO, left the bank last month when the bank said it would take up to $11 billion of losses on mortgage-related securities.

Like all new CEOs, Pandit will have a short grace period during which he can take tough measures that would normally be considered defeat if carried out by a longer-serving CEO. For instance, don't be totally surprised if Pandit quickly raises a substantial amount of new capital, adding to the $7.5 billion of stock the bank sold to the Abu Dhabi Investment Authority late last month. Eager to see financial soundness at banks, investors are tolerant of capital raises right now - and the Abu Dhabi investment may turn out to be insufficient if fourth quarter earnings are worse than expected.

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Source: www.cnnmoney.com

WISH YOU ALL THE SUCCESS IN YOUR NEW JOB Vikram!!