Citigroup has a new hedge fund manager to contend with. Edward Lampert, of ESL, who made $1.3 billion last year, according to Alpha, has acquired 15.2 million shares of the bank via RBS Partners, an affiliate of ESL. That's still less than 1 percent. Citigroup has been hearing rumors of more activist hedge fund interest recently. Others may now swoop in. Lampert apparently has been amassing the stake for a year. This raises the possibility that Lampert will seek some big changes, which can't be comforting to Citigroup CEO Charles Prince. Lampert has been known to seek change via management shifts and has played active roles in some situations. Lampert certainly has the clout among other shareholders to effect change. We'll see. Question: Which Prince will Lampert seek to meet with first?

For more:
- here's the Chicago Tribune article