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’Lex: Lloyds Banking Group
Whoever becomes the new chairman of Lloyds, the first thing he should do is get rid of the chief executive, Eric Daniels.
The current arrangement , which allows Mr Daniels to escape his share of responsibility,
Personality disorders and the chances of a divi cut at Citi
The market wasn’t impressed. Citi’s shares fell 5.6 per cent on the appointments of Vikram Pandit and Win Bischoff to head up the bank.
Seen as a plan B, the decision to split the roles of chairman and chief executive was a signal that Citi had failed to unearth a big-hitter to take on Chuck Prince’s mantle at the top of the world’s largest bank.
Junk Citi
So how, as the world’s largest bank, do you impart news that you have had to seek an emergency capital injection from a country many of your customers have never heard of, at almost two and a half times the Fed’s target lending rate?
First,