Your Mortgage Search Ends Here
Apply for a free, no-obligation quote from Mortgage Foundation
Mortgage Foundation offers the best interest rates on mortgages
with outstanding customer service to give you a pleasant
experience with your refinance, home equity loan, or new home purchase.

That is the Mortgage Foundation difference.

Give us a chance to prove it to you by clicking "Get Started"
Start

Citibank Changes Things Up

Posted at October 15th, 2007 6:19 pm by Ryan Fiore
Filed under: Affordable Housing, Citigroup, Housing Market, Mortgage Applications, Mortgage Broker, Mortgage Lending

Citigroup announced today that it’s combining it’s investment banking and alternative investment divisions into one lead by Vikram Pandit, a former Morgan Stanley executive.

“This new operating structure will enable us to continue to use our capital actively but in a more efficient way, keep moving towards higher margin business, continue to diversify our sources of business, and employ world class talent that has a relentless focus on serving our clients,” Citigroup CEO Charles Prince said about this new change.

Vikram Pandit was the founding member of the hedge fund Old Lane that was acquired by Citi earlier this year and announced in July that Citigroup has completed the acquisition. Citi also announced that it would close it’s 2.4 billion dollar hedge fund Tribeca Global Investments to avoid overlapping with it’s new fun.

Go to  Wall Street Journal to read more about Citigroup’s Announcement on Units Merger.

« Housing Market to Rebound in 2008
Greenspan Says Chance of Recession is 50% »

Leave a Comment