Citi chief executive Vikram Pandit has named the new heads of the group’s businesses under the re-organised structure, but revealed that a leader for the ‘non core’ arm Citi Holdings has yet to be found.
With waterboarding, they are told that unless the information is provided, their time underwater will be extended until they die.
Hapless RBS has lent him ’2.8 billion, which should tide him over nicely to the end of the next boating season.
London-based managers Thames River Capital are to close one of their hedge funds, Kingsway Plus, after a succession of investor redemptions.
Lloyds Banking Group has sounded out shareholders about a change in its executive remuneration plans that could generate pay rises for its directors despite being bailed out by the taxpayer.