Vikram Pandit, an Indian-American banker with a net worth of $200 million, is one of the wealthiest people in the world.
Vikram is an Indian-American banker and investor who served as the CEO of Citigroup from December 2007 to October 16, 2012, and is currently the chairman and CEO of The Orogen Group.
In 2008, the Government of India awarded Pandit the Padma Bhushan, India’s third-highest civilian award, for his contributions to trade and industry.
Businessman Pandit Net Worth
Vikram Pandit, an Indian-American banker, is one of the world’s wealthiest people, with a net worth of $200 million.
From 2007 to 2012, Vikram Pandit was the CEO of Citigroup, a financial services company.
Prior to this, he spent 22 years at Morgan Stanley, where he was instrumental in the development of the firm’s prime brokerage division and electronic trading platform.
He founded and became chairman and CEO of the operating firm Orogen Group in 2016.
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Vikram Pandit Career
Vikram Pandit taught economics at Columbia University in his early career and later worked as a professor at Brock University in St. Catharines, Ontario, Canada.
He joined Morgan Stanley as an associate in 1983, making him one of the company’s first Indian employees.
Vikram Pandit joined Morgan Stanley in 1990 as managing director and head of the US Equity Syndicate business, and by 1994, he had climbed through the ranks to become managing director (MD) and head of the firm’s global Institutional Securities division.
He was a key figure in the development of Morgan Stanley’s electronic trading platform and prime brokerage division, eventually rising to the position of president and chief operating officer of the firm’s global institutional securities and investment banking operations in 2000.
After being passed over by Philip J. Purcell, Vikram Pandit and John Havens opted to depart Morgan Stanley in 2005 after more than two decades with the firm.
Vikram Pandit Early Life And Education
Vikram Pandit was born into an affluent Marathi family in the Dhantoli neighborhood of Nagpur, Maharashtra, India. His father, Shankar B. Pandit, was the executive director of Sarabhai Chemicals in Baroda.
He attended Bishop Cotton School in Nagpur and, subsequently, the Dadar Parsee Youths Assembly High School in Dadar, Mumbai, where he finished his education.
Pandit traveled to the United States when he was 16 years old to pursue his undergraduate studies at Columbia University, where he got his B.S. in electrical engineering in only three years, in 1976. In 1977, he earned his M.S. in electrical engineering.
Vikram then moved on to economics and finance, earning an MBA and Ph.D. in finance from Columbia Business School in 1986 after submitting a thesis titled “Asset Values in a Heterogeneous Consumer Economy” that involved a difficult financial conundrum.
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Vikram Pandit Personal Life
Vikram Pandit, a naturalized American citizen, resides in a Manhattan apartment on the Upper West Side. Rahul and Maya, his two children, are the result of his marriage to Swati.
Pandit sits on the Columbia University, Columbia Business School, Indian School of Business, and Trinity School boards of directors.
He is also a Kappa Beta Phi member. He is the Institute of International Finance’s director. From 2000 to 2003, he was on the board of NASDAQ OMX, the New York City Investment Fund.
Pandit was given the Padma Bhushan by the Indian government in 2008.
Pandit abruptly resigned as CEO of Citigroup on October 16, 2012. Michael Corbat, who was previously the CEO of Citigroup in Europe, the Middle East, and Africa, has been nominated as his successor.
While Pandit and the firm claim he resigned, Bloomberg News reports that Pandit was driven out by the board after eroding investor confidence and harming the company’s relationship with regulators for a long time.