Citigroup chief says worst of crisis is over

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

"I think 2008 is not going to be easy," he said. "But I think there are sufficient numbers of people working very hard to get [the financial system] out of this, and I think we will be able to do so."

Citi, the world's biggest bank, was one of the worst-hit by the subprime crisis, and the billions of dollars it was forced to write down cost Charles "Chuck" Prince his job as chairman and chief executive. Sir Win took the chair in December with head of investment banking Vikram Pandit elevated to chief executive.

The bank has raised more than $37 billion (£18.8 billion) in the past five months as it repairs the damage to its balance sheet. Sir Win's comments echo those by banking executives during last month's reporting season, including Lehman Brothers chief executive Richard Fuld who told shareholders that "the worst is behind us" in the credit squeeze.

Others were just as bullish although JPMorgan Chase chief Jamie Dimon, who masterminded the rescue of Bear Stearns, warned of a weak economy and of stress in the markets for "the remainder of the year or longer".