Saudi Prince Alwaleed bin Talal, a major investor in Citigroup, says he personally told the banking giant`s Indian American chief executive Vikram Pandit that the honeymoon is over and he must deliver solid results in 2010.
Citigroup Inc could pay commercial and investment banking bonuses for 2009 that are similar to 2008 levels, and may cap individual cash payouts at about $60,000, according to people that have been briefed on the plan.
Continuing its selling spree for the second day on Thursday, foreign fund house Citigroup Global sold shares worth over Rs 491 crore in about 36 Indian companies, taking the total share sale to Rs 971 crore.
Citigroup Inc. said late Tuesday that the Abu Dhabi Investment Authority has filed a claim against the bank seeking to either terminate a deal to buy $7.5 billion worth of its stock or receive damages of more than $4 billion.
Continuing with its strict compensation regulations for the bailed-out entities -- Citi, AIG, General Motors and GMAC, the US government has extended the pay cap for their executives, limiting the annual cash salaries to $500,000.
A day after the Prime Minister`s
Economic Advisory Council said that India`s GDP may grow by
6.75 percent in the current fiscal, global financial major
Citi on Thursday maintained its forecast at 5.8 percent.