Citigroup, the third-largest U.S. bank, said its office at
111 Wall St. will be unusable for weeks and that a building housing senior
capital-markets executives lost power after Hurricane Sandy hit Lower
Manhattan, according to Businessweek.
“The building experienced severe flooding and will be out of
commission for several weeks,” CEO Michael Corbat wrote yesterday in a memo to
employees. “We will continue to use backup sites and work-from-home strategies
as necessary.”
Citi is assessing when buildings at 388 and 390 Greenwich
St. can open, a process complicated by power failures and transit disruptions,
Corbat wrote. The New York-based company uses those offices as the headquarters
for its trading and investment-banking operations….
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