July 2008

BY LEE HAN SHIH
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.

lee han shihLee Han Shih is the founder, publisher and editor of asia! Magazine.

 

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