Citi CEO Vikram Pandit has made clear at just about every turn that he sees his bank as a premiere global enterprise, the kind of bank well-suited to meeting the modern needs of multinational corporations. So you have to regard the spat with the Abu Dhabi Investment Authority, a well-known sovereign wealth fund, and a few other missteps as major blows.

The Financial Times says: "Its international franchise may never recover fully from the frayed relationships and alienated investors left in the wake of the financial meltdown." The paper faults the bank for not sufficiently coddling this major international customer. Vikram Pandit did not pay a visit, though Ned Kelly and Alberto Verme visited recently.

The spat follows some big screw-ups in Japan and Europe that happened during the previous regime. Still, this is not what you want from a premiere global bank. All this is begging for some sort of response, some action. Stay tuned.

For more:
- here's the article

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