Citigroup Has ‘Plenty of Time’ to Sell All of Smith Barney

Citigroup Inc. isn’t under immediate pressure to sell its entire stake in Morgan Stanley Smith Barney because the bank has made progress in reaching capital goals, Chief Executive Officer Vikram Pandit said.

Citigroup has “plenty of time” to dispose of its 49 percent ownership in the brokerage, owned jointly with Morgan Stanley, Pandit said today on a conference call. Pandit was responding to a question of whether New York-based Citigroup would be open to selling the entire stake this year.