We got an interesting e-mail this morning from a man in Bayside, Queens. David R. Yale, a 67-year-old consultant, is firing Vikram Pandit, the CEO of Citigroup.
Yale mailed a pink slip to Pandit that notifies him of his termination. “Inasmuch as your performance as fiduciary guardian of my funds, and as a member of the community, has been unsatisfactory, you are hereby notified that your services are no longer needed. I have closed two of my accounts (checking and money market) at Citibank’s Bayside NY branch effective immediately,” it says.
Yale, 67, told the Voice that he sent the letter by certified mail to Vikram Pandit’s home address in Greenwich. (We checked the tracking number — the USPS tried to deliver it about a week ago, and it wasn’t received.)
Yale said he’s been a depositor with Citibank for many years. “My beef with them is that number one, they have no respect for the law whatsoever,” he said. “They use hundreds of overseas tax shelters to avoid paying taxes on their income.” He’s also angry about the incident last month when a number of people trying to close their accounts at the Citi branch near Washington Square Park were arrested. He has closed two of his accounts at Citi and is transferring over to Capital One. (He would have chosen a credit union, but there are none within walking distance of his house, he said.)
As for whether or not Yale has the prerogative to terminate Pandit: “He works for me,” he said. “If he’s taking care of my money, he works for me.”
But Yale is aware that Pandit will probably never respond to his notice. We weren’t able to reach Pandit at his office, and he didn’t pick up his cell phone, so we have no idea whether he knows he has been made redundant.