New Citi chief moves cautiously with regulators

01/6/2013 | Reuters

After former Citigroup chief Vikram Pandit failed to win the go-ahead from U.S. bank regulators last year to return capital to shareholders, new CEO Michael Corbat is approaching the subject more cautiously, taking the time first to get acquainted with regulators during his early days in office. The bank is expected to seek approval only to buy back shares and not to raise dividends. "The first step will be bite-sized, it will be a start," said David Hendler, a senior analyst at CreditSights.

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