Citigroup Inc., the third-largest U.S. bank, said its office at 111 Wall St. will be unusable for weeks and that a building housing senior capital-markets executives lost power after Hurricane Sandy hit Lower Manhattan.

“The building experienced severe flooding and will be out of commission for several weeks,” Chief Executive Officer Michael Corbat wrote yesterday in a memo to employees. “We will continue to use backup sites and work-from-home strategies as necessary.”

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