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Citigroup has great potential: Prince Alwaleed
- USA: Tuesday, October 23 - 2012 at 00:50
Prince Alwaleed bin Talal, who has a stake in Citigroup, has said the US lender has great potential under new management following the departure of Vikram Pandit as chief executive, Reuters has reported. The prince praised Citigroup's status as a global bank - the world's only truly global bank, he said - and the fact that it did not pull back from overseas during the global financial crisis as other Western banks have done. He also said Pandit had done "a pretty good job" at Citigroup over the past several years and investors would need two to three years to see the results of the new management.
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