More on whether Martin Lippert can save Citi

CEO Vikram Pandit has done a lot of executive tinkering at Citi since he took the reins. Arguably, one of his most important hires was new CIO Martin Lippert, who arrived from the Royal Bank of Canada with a career's worth of experience in systems integration. That made him ideal for the ailing mega-bank. Citi has long been viewed as somewhat behind the curve in terms of its systems, notes Bank Technology News. That certainly came back to bite it in the recent credit crunch: "It blinded Citi to the risks that subprime exposures posed to various areas of the bank, such as its off-book structured-investment vehicles." Lippert is being charged with "transformational" change. The immediate challenges will be costs, however, and perhaps the need to prepare systems for possible sales or spin-offs.  

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