Here's one big bank CEO said to be doing a 'terrific job'

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The rest - well, not so much.

Citigroup shares are a good buy, and CEO Michael Corbat has been successful in turning the company around, former CEO Sandy Weill said.

Bloomberg News reports that Weill said in a CNBC interview: “Mike Corbat is doing a terrific job, and I think the stock is really very, very cheap at a major discount to book value, or tangible book value. With patience people are going to do very well, hopefully, with the banking stock.”

Weill and his wife, Joan, gave $185 million to the University of California at San Francisco to set up an institute for neuroscience research, a record donation for the school, according to a statement Tuesday.

In the meantime, Bloomberg also reports that some Citigroup employees may soon see a bright side to the firm’s relentless cost cutting: sunny Florida.

The bank, which has reduced its workforce in 13 of the past 14 quarters, plans to add about 1,000 people in the state as it shifts more operations there, Corbat told shareholders Tuesday at an annual meeting in Coral Gables, near Miami.

Former Citigroup CEO Weill Says Shares of Bank Are ‘Very Cheap’

Citigroup to Put 1,000 More Employees in Florida Amid Cost Cuts

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