Hello and welcome to Citi's Fourth Quarter 2012 Earnings Review with Chief Executive Officer, Mike Corbat and Chief Financial Officer, John Gerspach. Today's call will be hosted by Susan Kendall, Head of Citi Investor Relations.
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.
CEO Michael Corbat's 13 reshuffled direct reports are all men an extreme example of the gender gap that exposes banks to reputational and operational risks and charges of being out of touch.