Bold move: Pandit rejects break-up of Citigroup

We noted recently that Vikram Pandit, CEO of Citigroup, had rejected the idea of breaking up Citigroup. Now, he's going public with his views. In an interview with Business Week, Pandit said he "couldn't get a better set of assets" and the conglomerate approach was "clearly the right model." This won't earn him points with the many Citigroup bears out there, who may be emboldened by the bank's first-quarter earnings. But perhaps he sees something like what Lou Gerstner saw when he declined to break up IBM all those years ago. Pandit is bullish on four areas: management services, investment banking, wealth management and credit cards. Of course, many thought that cars and investment banking ought to be spun out somehow. His immediate concern is getting through the credit crunch. That means costs, among other things. Only then can he attempt to put in place a real strategy that will define his tenure.  

For more:
- here's the Business Week article

Related Articles:
Pandit against a break up?
Will restructuring satisfy Citigroup critics?
Citigroup continues to tinker with execs
No honeymoon for Pandit
Wow! Pandit takes major action already