It will take more than a new CEO to fix Citigroup, the NY Post
reports. Meredith Whitney, the influential
bank analyst who garnered Wall Street glory by making accurate calls against
Citi as the financial crisis was gathering steam, said she was “uninspired” by
the bank’s newly minted boss, Michael Corbat.
“He didn’t give us an agenda and he didn’t even give us a
stamp for when he’s going to give us an agenda, so it left people a little bit
uninspired,” she said during an interview with Bloomberg TV yesterday.
She touted Bank of America, run by CEO Brian Moynihan, as a
better investment for potential shareholders as a contrast to Citi. She set a
12-month price target on BofA shares of $15. The stock closed down 9 cents, at
$11.84. Whitney is betting that the firm
will get the green light from regulators to buy back as much as $5 billion of
shares, which would give shareholders a lift….
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