July 2008
Dec 09, 2008
*Special to asia!
Citigroup CEO Vikram S Pandi is severely embarrassed after the bank he took control of last December had to write down US$202 million on the value of Old Lane, a hedge fund of which Pandit was a co-founder. Citi bought Old Lane for US$800 million, a purchase that brought Pandit into the group. Citi will restructure Old Lane after “substantially all” its outside investors withdrew their money.


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