Chuck Prince, chief executive of Citigroup, faced fresh calls for his removal on Monday after the bank revealed it suffered $6bn of writedowns and losses in the third quarter after turmoil in the credit markets.
Still dancing?
The $1.4bn writedown Citigroup has recorded on commitments to lend to private equity buy-outs is awkward for Mr Prince, who told the Financial Times in July that Citi was “still dancing” in the credit markets, just as investor demand for leveraged loans was drying up.
