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20:23 February 15th, 2007

Where there’s smoke, there’s fish

Posted by: Robert MacMillan
Tags: Uncategorized

They finally mention Maria.

BusinessWeek published the results of its investigation into the downfall of Todd Thomson, Citigroup’s ex-head of global wealth management.

Their conclusion: Rumors of cozy, transcontinental jaunts on the corporate jet with CNBC anchor Maria Bartiromo may not tell the real story behind Thomson’s exit.

In fact, they look more like a smear campaign to divert attention from Citi’s financial performance and disappointing stock price, BusinessWeek reported.

“Partly because of Citi’s woes, many on Wall Street aren’t taking the often-salacious press reports at face value,” the magazine reports.

It’s not the first time that BusinessWeek has tackled the issue, but it is the first time it mentions Bartiromo, who writes a regular column for the magazine. “Did high-level Citi officials spread gossip about her?” read a caption next to her photo. 

Thomson’s office was so luxurious that it was dubbed the “Todd Mahal” by insiders, but BusinessWeek’s sources said Thomson’s supposedly lavish perks are standard issue for high-level executives.

Exhibit #1: Fish. Thomson’s fish tank was “nondescript” and held goldfish — eight red and one black.

Exhibit #2: Fireplace. It’s not the only one in the building. There’s even one in the conference room. And they are gas-run, not wood-burning.

Exhibit #3: Maria. She’s not talking, but sources told BusinessWeek that she’s telling friends and colleagues that “everything she has done was completely proper.”

No mention of whether any of the friends, sources or colleagues have anything to do with BusinessWeek.

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