Regulators force review on Citi

US regulators have told Citigroup to enlist external consultants to decide whether its management is suitably qualified to lead the ailing bank out of the financial crisis. The news puts increased pressure on the group’s management and board, as chief executive Vikram Pandit comes under fire from the Federal Deposit Insurance Corporation and his fellow senior executives. Egon Zehnder, an advisory consultancy, has been retained by Citi to carry out an in-depth management review which was requested by the government after the stress tests on the banks in May.