'We need to once again speak about growth, but also about measures to raise efficiency, after all we have been tasked by the supervisory board with raising the value of our bank in the long run', Jain told the paper.
Jain did not specify whether this would translate into job cuts.
In the meantime, Bloomberg reports that Citigroup, whose shareholders rejected Chief Executive Officer Vikram Pandit’s compensation plan in April, is committed to resolving the pay dispute and the board will make a decision by the end of the year, he said.
Directors are still consulting with shareholders of the New York-based lender about potential changes, Pandit said today in an interview with Bloomberg Television in St. Petersburg, Russia. The advisory vote last April was non-binding.
Finally, Reuters reports that Goldman Sachs on Thursday sued CVR Energy Inc, an oil refiner controlled by Carl Icahn, contending that the billionaire investor will not let the compan pay $18.5m of fees and expenses it owes.
In a complaint filed with a New York state court in Manhattan, Goldman said CVR in March hired it to provide financial advice on Icahn's tender offer for its stock, and agreed to pay a fee based on the size of any transaction.
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