Friday, 9 May 2008

Vikram Pandit sells the church of his love for $5 million

Citigroup's chief executive, Vikram Pandit, will identify in a meeting with Wall Street analysts today up to $400 billion in non-core assets which could be sold to reduce costs at the bank. But I can reveal - and with a heavy heart - that Vik has already sold the church of his love to an anonymous buyer for $5 million.

Vik wouldn't speak to me on the phone last night. I guess he feels ashamed. But I was able to speak to the anonymous buyer - I know who he is, by the way - and he told me, 'I'm so happy. So very, very happy. It's the church of my love now, and I will cherish it. The church will live in my heart. It will grow with me, and it will teach me. $5 million! What a bargain! I suppose Mr Pandit just wanted it off his hands. I won't ever sell it though.'

The church has gone to a good home. And if you're wondering - no, Noam Gottesman is not the buyer.