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Citi taps ME families to boost private bankCitigroup Inc, one of the world's largest banks, is betting on wealthy Middle Eastern family firms who are in expansion mode to boost its private bank business, senior executives said. Citi's family office unit is part of More… |
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Fed orders Citi to improve money laundering checksThe Federal Reserve has ordered Citigroup to better police for the risk of money laundering, part of a broad US regulatory crackdown on the potential for illicit money flows. The Fed told Citigr More… |
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Citigroup income hits $1.2bnCitigroup posted $2.32 billion of charges for layoffs and lawsuits in the first financial report under its new chief executive, Michael Corbat, who cautioned that the bank needs more time to deal with the problems it faces. Even w More… |
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Citigroup CEO names new executive teamThe new chief executive of Citigroup named two company veterans to lead its institutional and consumer businesses on Monday and set lines of command to give him more direct responsibility for executives than his predecessor. CEO M More… |
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Citigroup to cut 11,000 jobsCitigroup will eliminate 11,000 jobs worldwide, about 4 percent of its total staff, in a move to save as much as $1.1 billion a year in expenses, the company said on Wednesday. The move will ini More… |
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Citi names Mena head of Consumer BankingCitigroup has appointed of Dinesh Sharma as Consumer Banking head for Mena. He will be based in Dubai. Sharma joined Citi in 1990, and has since assumed key business roles across a range of functions within Consumer Banking in Asi More… |
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Citigroup CEO Pandit resignsCitigroup chief executive Vikram Pandit has resigned effectively immediately, the company said on Tuesday in a statement from chairman Michael O'Neill. Michael Corbat, previously chief executive for Europe, Mid More… |
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Citigroup posts $2.9bn incomeCitigroup's quarterly profit beat Wall Street estimates as the third-largest US bank cut expenses and benefited from an improved economy and more active capital markets after a dismal end to 2011. Profit was boosted by loan growth in the l More… |
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Kingdom wins approval for $1bn bondKingdom Holding, the investment vehicle of Saudi billionaire Prince Alwaleed bin Talal, has received shareholder approval to sell bonds worth up to 3.75 billion riyal ($1 billion), the company said in a bourse statement on Wednesday. The f More… |
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Citigroup chairman to step downRichard Parsons will step down as chairman of Citigroup at its annual meeting in April and will be succeeded by Michael O'Neill, the former chief executive of Bank of Hawaii Corp, Citigroup said on Friday. Two other board members More… |
