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Citigroup tower for investment bankers has some flooding

By David Henry

(Reuters) - Citigroup Inc said on Tuesday that a Manhattan building where investment bankers work sustained minor flooding from Hurricane Sandy and had no power.

The building is expected to be accessible in the next two days, the bank said in on Tuesday morning memo to employees that was seen by Reuters.

The building is along the Hudson River at 388 Greenwich Street, a short distance north of the World Trade Center site. It also houses staff for Citigroup's transaction services unit, which caters to corporations and governments around the world.

An adjacent building with trading floors was running on power from a generator on Tuesday and was expected to be accessible in the next two days, the memo said.

A building at 111 Wall Street, which is the bank's third major facility in downtown Manhattan, was flooded and without power and would remain unavailable for several days, the memo said. The building is used by some of the company's processing and human resources staff.

The company has said it has extensive backup facilities for its work.

Bank branches were still closed in New York, New Jersey, Connecticut, Pennsylvania and Delaware, according to the memo. The bank said it was trying to open branches in Washington, D.C., Virginia, Maryland and Massachusetts on Tuesday afternoon.

The memo said damage assessments were continuing.

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(Reporting by David Henry in New York)

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