Citigroup Inc. Chairman Richard Parsons said Chief Executive Officer Vikram Pandit doesn't get the credit he deserves for leading the company through the financial crisis.
"Vikram has done a tremendous job, and he has not been given the credit that I think is due to him and his team," Parsons said Monday in an interview on Bloomberg Television. "We fell into a pretty deep hole, and I think it's clear to the markets now that Citi is climbing out of that hole and will get out of that hole."
Citigroup, which is 27% owned by the U.S. government, reported its second straight loss last year. Pandit said in January that his goal was "profitability now" as the company works through credit costs and invests in core businesses.
"He has the support of the board and he has my personal gratitude for being frankly as selfless as he's been in doing all this," Parsons said.
