'The Last Honest Analyst'

That's how Fortune magazine once described Sallie Krawcheck, Citigroup's chief financial officer. And, just to prove it, she's just purchased a $9.25m property in the Hamptons from an investor who was once awarded $205,370 against Citigroup, after he successfully alleged that the company's former stock analyst Jack Grubman had issued tainted stock research.

The property seller, 79 year-old Norman Ember, said that 'she (Sally) was president of Smith Barney (Citigroup's brokerage arm), but she wasn't responsible for that fraud. I certainly wasn't prejudiced against her'. But, then again, he did have 9,250,000 reasons not to be.

So, Sally got a four-bedroomed, Robert Stern designed property in a desirable location, with a 60-foot swimming pool and jacuzzi and a 4-acre garden, complete with 4,000 dahlias.

But Sally can afford it. She got a $7m sign-on when she joined Citigroup in 2002, 1 million share options, a $500,000 base salary and a multi-million dollar guaranteed bonus deal.

And talking of Jack Grubman..... A US federal judge gave the go-ahead on Friday for a lawsuit against Citigroup, which alleges that Grubman once uprated AT&T after being encouraged to do so by Citigroup chairman (then also CEO), Sandy Weill. It is claimed that Weill was anxious for a decent rating on AT&T as the company was a good investment banking client.

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