Citigroup Inc. (NYSE: C)
March 04, 2010
Prepared Testimony of Vikram S. Pandit Chief Executive Officer, Citigroup Inc. Before the Congressional Oversight Panel
Washington, DC – Chair Warren and members of the Panel, I am Vikram Pandit. I appreciate this opportunity to appear today as the Chief Executive Officer of Citigroup.
Citi today is fundamentally different from the company we inherited when I became CEO two years ago. The write downs Citi took during the financial crisis – together with concerns about the quality of some of our assets – led to questions about the Bank's financial condition. Now, as a result of the government's response to the crisis, our new team's focused strategy and the commitment of all our employees, I am pleased to say we are in a far different and much healthier position. Today, Citi is operating on a very strong foundation and is positioned to contribute to the economic recovery and generate sustained profitability for the benefit of all our stakeholders.