Citigroup Inc. had a Prince, but now it needs a king.
As the bank hunts for a chief executive officer to succeed Charles Prince, it is becoming clear that finding the right candidate to steer Citigroup through financial-market tumult and reinvigorate an institution that has fallen behind its rivals will be difficult -- and that is weighing on the stock price.
Citigroup's shares fell 5.9%, or $2, to $32 yesterday after an influential banking analyst cut his rating on the stock to "sell" from "hold," based on the bank's exposure to areas of the credit markets that have come under enormous pressure.
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