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Citigroup CEO Resigns

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Can't say I'm shocked to get the news of Citibank's Vikram Pandit quitting (Citigroup CEO Vikram Pandit resigns | Reuters.) Evidently Citibank's online banking has been an absolute disaster recently. There have been numerous outages, slow response, and unscheduled downtimes.

Telephone customer service and tech support have also been horrendous during these outages. Customers are told that the site would be online shortly only to have no access for entire days. Understandably the service reps are frustrated having to deal with irate customers and they have, in turn, become rude and abusive to the callers.

The CEO's abrupt resignation may not have been directly related to Citibank's online problems, but such prolonged issues are manifestations that the bank is in the state of chaos and disarray and no one is minding the store. That's just a shame as Citibank was a decent bank to do business with at one time.

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