HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) met with Mr. Vikram Pandit, CEO of Citigroup at The Plaza Hotel in New York on Saturday 4th February 2012 during His Highness’s trip to the United States of America.
Prince Alwaleed and Citigroup’s CEO discussed the latest developments in Citigroup and future plans of the company. Furthermore, the Prince re-affirmed his support of Mr. Pandit and Citigroup’s management.
In 2010, Prince Alwaleed received at his office in Riyadh Mr. Pandit during his visit to Saudi Arabia and hosted a luncheon for his guest at Kingdom Resort. Also in the same year, Prince Alwaleed was received by Mr. Pandit at Citigroup Headquarters in New York.
Prince Alwaleed is a prominent investor in Citigroup through KHC since 1991 and is the largest single shareholder in the company. In January 2008, Prince Alwaleed participated in a $12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares).