Citigroup boss Charles Prince looks set to resign as the bank prepares for an emergency meeting, say reports.
Investor calls for his resignation have increased since the bank reported a 57% drop in quarterly profits, after losses in the sub-prime mortgage market.
Citigroup, which declined to comment on the reports, is the latest finance firm to be hit by the credit crisis spurred by a rise in mortgage defaults.
The head of Merrill Lynch recently resigned after reporting heavy losses.
The latest spate of poor earnings from US banks have prompted concerns that the worst of the credit crisis may be yet to come.
Speculation about the future of Citigroup have intensified since Friday, when the Wall Street Journal said the firm was set for an emergency meeting on Sunday, according to a source close to the situation.
Shares ended the week 2% lower by close of trade in Friday in New York, at $37.73.
In the three months to the end of September, net income dropped to $2.38bn from $5.51bn a year earlier.
At the time of the results Mr Prince said: "A significant amount of our income decline was in our fixed-income business, where we have a long track record of strong earnings, and this quarter's performance was well below our expectations."
On 1 October, the firm had projected a 60% drop in quarterly earnings.
"This was a disappointing quarter, even in the context of the dislocations in the sub-prime mortgage and credit markets," said Mr Prince. ( BBC )