Michael Klein, reported recently to be leaving Citigroup, of which Citibank is a part, is set to receive one of the largest payouts in the industry for a departing executive since the credit crunch started.
It is understood that Mr Klein will receive a settlement package from Citibank worth over USD42 million, made up of stocks and cash, with the proviso that he does not join a rival organisation before next October. The amount may cause consternation for the company since it sits uncomfortably with the position of banks and financial institutions saying they are struggling.
Citibank has seen many changes in recent months, with a new management structure now in place to try and steer the business back into profitability and financial stability following heavy losses on the back of the US sub-prime lending collapse.
Sainsburys Bank has determined that cost of a two day trip to Moscow to watch the UEFA Champions League final between Manchester United and Chelsea will cost each supporter an average of GBP624. This is without a flight, which would add greatly to the total.
Over GBP300 of this will be spent on the hotel room, with meals, transfers and sundry expenses taking up the rest. The total spend for adds up to around GBP40 million says Sainsburys Bank, which is a lot of money to put into Russian coffers.
Good advice from Sainsburys Bank is to shop around for the best rate on currency since it can make a real difference. They also recommend combining a good rate with good quality service to get the best overall package.
Research carried out by the Alliance and Leicester has found that around 38 percent of small business organisations are run by the owner with the support of their partner.
Partners can be found in a variety of roles around the business, especially administration and operations. This enables them to have an overall understanding of the business whilst being fully supportive of their managing partner. The Alliance and Leicester research also revealed that around 35 percent of couples share the decisions on finance in the business.
An Alliance and Leicester spokesman felt that this approach to business showed how committed both partners were to making their organisation successful. He felt that this approach enabled them to share some of the stresses, making them easier to deal with, and also the highs, bringing a sense of achievement for both of them.
