Report: US pushing for shake-up at Citigroup

The Federal Deposit Insurance Corp. is reportedly pressing for a management shake-up at embattled bank Citigroup Inc., putting CEO Vikram Pandit in the hot seat.

The Wall Street Journal cited people familiar with the matter for its report on Friday.
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"We are confident in our management and confident that we will continue to position Citi ( C - news - people ) for a return to sustained profitability," Chairman Richard Parsons said in a statement e-mailed to The Associated Press.

A spokesman for the FDIC declined to comment.

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- Posted: 2009-06-05 10:01:40

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