“What went wrong is we had tremendous concentration in the sense we put a lot of our money to work against U.S. real estate. We got here by lending money, and putting money to work in the U.S. real estate market, in a size that was probably larger than what we ought to have done on a diversification basis.”
Quote by Vikram Pandit
Author
Vikram Pandit
Vikram Pandit is an Indian-American businessman and former CEO of Citigroup. Born on January 14, 1957, in Mumbai, India, Pandit has a strong background in finance and has held various leadership roles in the banking industry. His tenure as CEO of Citigroup was marked by significant restructuring efforts and a focus on cost-cutting, which helped the bank navigate the financial crisis of 2008. more
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