The 50-year old Vikram Pandit who was appointed CEO in December 2007 has also been made a member of the Board of Directors after former CEO Charles Prince stepped down on November 4 following huge investment losses.

Together, the 10 companies have recorded a revenue of about $253 billion in 2007, which marks an increase of about $20 billion compared to 2006.

The six PIO-run firms in last year's Fortune 1000 list had a total revenue of about $233 billion.

However, the cumulative profit of the 10 companies in Fortune's 2008 list stands at about $13 billion, down from more than $34 billion earned by the six firms that were on the last year's list.

Image: Vikram Pandit, CEO, Citigroup | Photograph: Paresh Gandhi