Stock Research Citigroup Sandy Wyles Decisions Haunt Current Shareholders
Our stock research has come up with an interesting concept for you to focus on. Citigroup is in the press these days because its stock price has failed to keep up with that of its competitors including Bank of America, Wells Fargo, and JP Morgan Chase. The chairman of Wells Fargo, Richard Kovacevich is acknowledged to be the finest banking CEO in the business, but doesnt receive the press because no one can pronounce his name. Citigroup is up about 17% under the current CEO while cross-town rival J.P. Morgan Chase has gained more than 40%, and Union Bank of Switzerland (UBS) more than doubled. Reliable Goldman Sachs is up over 150%. Is anybody listening? You bet they are.
Chuck Prince, who took over Citigroup after the departure of the fabulously successful Sandy Weill, is now getting excoriated by the financial press because Citigroups stock price has seriously lagged that of its rivals noted above. When youre down, they kick dirt on you as the saying goes. The press has gone out of its way to jump all over the firing of Todd Thomson who ran Citigroups wealth management division....
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