MPA Hot 100 2014: Michael Corbat

by Ryan Smith20 Dec 2013

HOT 100: When Michael Corbat took over as CEO at Citigroup in October of 2012, the bank was in trouble, being one of the lenders hardest hit by the financial crisis. By the second quarter of 2013, Corbat had reversed the bank's fortunes -- profits in that quarter soared 44% to $4.2bn. But that success came at a cost -- Corbat unloaded $18bn in troubled loans and announced the layoffs of 11,000 employees -- including 1,000 mortgage unit employees.



Is TILA-RESPA a good or bad thing long term?