Citigroup CEO resigns
Citigroup CEO Vikram Pandit shocked Wall Street by abruptly stepping down from his position, in a move that reportedly followed a clash with the company's board over strategy and performance of businesses. President and Chief Operating Officer John Havens also resigned.
Pandit's replacement, effective immediately, is Michael Corbat, who had been CEO of the bank's Europe, Middle East and Africa division.
State Street chief: 'My strategy works'
State Street Corp. chief Jay Hooley defended his strategy for the global custody bank, saying most shareholders like what he is doing, after a report that some large investors are unhappy with his management of the company.
The Hub money manager's shares rose after it posted a third-quarter operating profit that beat analysts' estimates.
Local startups shine with funding
Three local startups, Perfecto Mobile, Handybook and ByteLight, all saw their fortunes rise after receiving $15 million, $2 million and $1.25 million respectively in separate venture capital funding deals.
TODAY
- A Food and Drug Administration Advisory panel reviews Cambridge-based Aegerion Pharmaceuticals' new cholesterol drug, lomitapide.
- Bank of America reports quarterly financial results.
TOMORROW
- Massachusetts employment data for September is released.
- Natick medical device maker Boston Scientific, Google and Verizon report quarterly financial results.
- Marshalls opens a new store on Brookline Avenue near Fenway Park.
- Former Massachusetts Gov. William Weld is returning to Boston as a partner in Mintz Levin's litigation and corporate sections, and a principal at ML Strategies, the firm's government relations consulting group. Weld has worked for McDermott Will & Emery in New York since leaving office in 1997.
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