The US Federal government's stress tests on leading financial institutions may have put to rest doubts about their solvency but uncertainty remains over the future of their top management, including that at the Citigroup.
Following the rigorous stress tests, the Obama administration had directed 10 entities such as Citi, Bank of America and Wells Fargo to bolster their capital by as much as $75 billion.
Along with the directive, the US had also urged the companies to review the existing management and board to ensure that they have the expertise to steer through the financial turmoil.
India-born Pandit-led Citi and Bank of America are among the most troubled financial services majors. Both of them have already received billions of dollars in taxpayers' money.
In recent months, many media reports have suggested that there may be changes at the helm of both these entities, especially in the wake of the stress tests.
BofA Chief Executive Kenneth D Lewis is under pressure after the shareholders stripped him of Chairmanship.