MBA Looks To Fix Citigroup
January 20, 2010
By the My MBA Career Content Team – Find Top MBA Degree Programs
The economic crisis has hit many banks hard. Many companies are posting losses due to the amount of debt and unpaid loans and mortgages caused by individuals who can't pay.
Vikram Pandit, who hold an MBA, serves as Chief Executive Officer (CEO) for Citigroup. Unfortunately, the banking giant recently announced it was $1.6 billion in debt, according to the New York Times.
Pandit now is trying to get the bank back on its feet, as well as keep other bankers and employees invested in the company. According to the news source, overall morale is low.
Although the debt forced Citigroup to close last year in the red, Pandit believes they still improved from where they were at the start of the recession, saying "we have made enormous progress in 2009."
Approximately 27 percent of Citigroup is still owned by the taxpayers, whereas many banks have been able to free themselves from the bailout money.
An MBA could provide you with the tools you need to successfully navigate your way through a financial crisis. It's been widely reported that business schools are beginning to use the current recession as a way of showing students what could potentially run a company into the ground.
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Related Article Topics: Finance
