Top bank CEOs face big challenges

Forbes weighs in with an interesting piece about the short-term challenges facing the CEOs of top banks. In many cases, they all are wearing the same shoes. They must reduce costs, shore up capital, rationalize staff levels, and such. But at a slightly deeper level they have individual burdens to bear. Citigroup would seem to be carrying the heaviest load. The article says all Vikram Pandit has to do is "cut out 20 percent of the balance sheet, fire thousands, cut $15 billion in costs. Geez, where to start?" He's announced a plan, but the potential results are uncertain. At the other end of the spectrum: Richard Fuld, of Lehman Brothers, which has fared relatively well, having written down only $3.3 billion. Its main task: shore up confidence. John Thain of Merrill Lynch, similarly, has some "image polishing" to attend to, which may become more urgent after the second quarter, which likely will be rough.   

For more:
- here's the Forbes article

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