Vikram Pandit is the new CEO of Citigroup Inc

Citigroup Inc has announced the appointment of Vikram Pandit as its new chief executive officer.

The company further named the acting CEO Win Bischoff as chairman.

This news has somewhat disappointed the investors in the company as they expected Citigroup to name a big-name outsider as the new leader of the bank.

Vikram Pandit has been their investment banking head and he had joined the company around five months ago.

His company Old Lane Partners was acquired by Citigroup for around $800 million.

Investors are worried that Pandit has not yet run a public company and Citigroup is going to be a tough task for him.

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