Saudi billionaire Prince Alwaleed bin Talal, who has a stake in Citigroup , said on Monday the U.S. bank has great potential under new management following the departure of Vikram Pandit as chief executive.

Alwaleed, speaking at a conference, said Pandit had done "a pretty good job" at Citigroup over the past several years and investors would need 2-3 years to see the results of the new management.

Alwaleed also said he would stick with his investment in Apple .

(Reporting by Mirna Sleiman; Writing by Andrew Torchia; Editing by Dan Lalor)