Following a solid December employment report, average monthly job growth in 2013 could accelerate, but not by much, say Morningstar's Bob Johnson and Vishnu Lekraj.
Among Vikram Pandit's last jobs as Citigroup Inc.'s chief executive officer was to decide the fate of the bank's hedge-fund unit, which employs some of his oldest colleagues. He agreed to give them most of it for free.
The transaction involves approximately 3,000 accounts and $1.7 billion in assets under administration, which represent non-target business for Citi Private Bank's trust business.