Warren Buffett tells Citigroup CEO Fraser to keep going with overhaul -source
By Isla Binnie and Lananh Nguyen NEW YORK (Reuters) – Over a recent lunch with Warren Buffett, Citigroup CEO Jane Fraser outlined her latest round …
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Citigroup partners with LuminArx to launch private lending vehicle
(Reuters) – Citigroup launched a private lending vehicle in partnership with alternative investment manager LuminArx Capital on Thursday, looking to expand its footprint in a …
Citigroup equities execs leaving as reorganization continues, sources say
By Tatiana Bautzer NEW YORK (Reuters) – Three senior executives are leaving Citigroup’s equity-trading division, two sources with knowledge of the matter said on Wednesday, …
Citigroup sees headcount dropping 20,000 by 2026
(Reuters) – Citigroup’s Chief Financial Officer Mark Mason said on Friday the bank expects its headcount to be down roughly 20,000 by 2026. The third-largest …
Citigroup to shut global distressed-debt business – CNBC
(Reuters) – U.S. lender Citigroup is closing its global distressed-debt business as part of CEO Jane Fraser’s overhaul, CNBC reported on Wednesday citing people with …
Citigroup closes municipal underwriting and market-making unit- memo
By Tatiana Bautzer NEW YORK (Reuters) – Citigroup has decided to close its municipal underwriting and market-making activities, according to a memo seen by Reuters. …
Citigroup asks employees to speak up about inappropriate behavior
By Tatiana Bautzer NEW YORK (Reuters) – A top Citigroup executive asked employees to speak up if they see inappropriate behavior after a managing director …
Citigroup CEO announces management changes, ‘difficult’ decisions
NEW YORK (Reuters) – Citigroup CEO Jane Fraser announced the next layer of management changes in a sweeping reorganization, according to a memo to staff …
Citigroup resumes retail banking sale in Poland – Bank Handlowy CEO
GDANSK (Reuters) – Citigroup has resumed the process of selling the retail business of Bank Handlowy in Poland, Bank Handlowy CEO Elzbieta Czetwertynska said on …
Top Citigroup industrials banker to join Jefferies -sources
By David Carnevali and Svea Herbst-Bayliss NEW YORK (Reuters) – Investment bank and capital markets firm Jefferies has hired industrial banker Francis Tucci from Citigroup …
Citigroup raises Japan stocks to ‘neutral,’ cuts UK to ‘underweight’
(Reuters) – Citigroup on Friday upgraded its recommendation on Japanese stocks to “neutral” as the country’s economy and earnings look resilient, but downgraded British equities …
Citigroup has ‘no room for bystanders’ in reorganization, CEO says
By Tatiana Bautzer NEW YORK (Reuters) – Citigroup CEO Jane Fraser said on Friday that top employees were on board with the company’s sweeping reorganization, …
SEC fines Citigroup, former unit over customer disclosures
(Reuters) – Citigroup and a former unit were fined $1.975 million by the U.S. Securities and Exchange Commission on Thursday for making securities recommendations to …
Citigroup now expects Fed to hike interest rate in November
(Reuters) -Citigroup now expects the U.S. Federal Reserve to raise its key interest rate by 25 basis points (bps) in November, compared with its previous …
Citigroup cuts 2023 euro area real GDP growth forecast to 0.4%
(Reuters) – Citigroup downgraded its 2023 economic growth forecast for the euro area to 0.4%, and said it expected the region’s economy to shrink “gently” …
Citigroup CEO of institutional clients group Paco Ybarra to leave – memo
By Lananh Nguyen NEW YORK (Reuters) – Paco Ybarra, the CEO of Citigroup’s institutional clients group, will leave in the first half of next year, …
Citigroup lifts S&P 500’s year-end target to 4,600
(Reuters) – Citigroup raised its year-end target for the S&P 500 by 15% as it now sees a higher probability of a soft landing for …
Citigroup hires former UBS banker for energy dealmaking – memo
By David French and Anirban Sen (Reuters) – Citigroup Inc has hired former UBS Group AG banker Dan Ford as a vice chairman within the …
Citigroup bets on ex-BofA exec Andy Sieg’s connections to revamp wealth unit
By Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) – Citigroup Inc’s hiring of Andy Sieg, the incoming head of its wealth management unit, underscores …
Citigroup sees global profits shrinking 5% in aftermath of banking turmoil
(Reuters) – Citigroup equity strategists flagged a likely 5% contraction in global profits this year as turmoil in the banking sector raises the risk of …
Citigroup expects ECB to take deposit rate to 4% by July this year
(Reuters) – Citigroup expects the European Central Bank to hike rates by 50 basis points each in March and May to push its policy rates …
Citigroup to lay off less than 1% of staff – source
(Reuters) – Citigroup Inc is laying off less than 1% of its workforce, excluding its remediation team working on a consent order, people familiar with …
Citigroup expects $190 million of costs tied to Russia wind-down
(Reuters) – Citigroup Inc said on Monday it was expecting $190 million of costs tied to winding down its consumer and institutional banking business in …
Citigroup executive says strategy refresh remains “priority”
(Reuters) – Citigroup Inc is laser-focused about its “mission-critical” transformation agenda, its global head of treasury and trade solutions business said on Tuesday, as the …
Citigroup technicals indicate rally may extend even as Wall Street remains wary
By Mehnaz Yasmin (Reuters) – Citigroup Inc’s shares are approaching a potential bullish technical signal which indicates that this year’s 14% rally could continue, even …
Citigroup hikes pay for junior bankers despite tough year – Bloomberg News
(Reuters) – Citigroup Inc is boosting compensation for most of its junior bankers by as much as 15%, Bloomberg News reported on Wednesday, highlighting the …
Citigroup cuts U.S. stocks to ‘underweight’, favours European equities in 2023
(Reuters) – Citigroup analysts turned “underweight” on U.S. equities on recession fears but were bullish on European stocks, saying much of the pessimism was already …
Citigroup promotes most women ever to MD role- memo
(Reuters) – Citigroup Inc promoted over 100 women to the role of managing director, the highest ever for the bank, according to a memo seen …
Citigroup says it’s in dialogue with regulators on consent order
NEW YORK (Reuters) – Citigroup Chief Executive Jane Fraser said on Friday the bank is having “constant and constructive” dialogue with regulators about a consent …
Citigroup names Grant Carson to oversee standalone Russia business – memo
(Reuters) – Citigroup Inc has named Grant Carson, head of its EMEA hub-managed countries, to oversee its business in Russia as the Wall Street lender …
AMC hires Citigroup as underwriter for preferred shares
(Reuters) – AMC Entertainment Holdings Inc said on Monday it had hired Citigroup as an underwriter to help it sell up to 425 million units …
Citigroup expects sale or IPO of Mexico consumer business next year
NEW YORK (Reuters) – Citigroup Inc expects to divest its Mexican consumer business via a sale or initial public offering that could happen next year, …
Citigroup hires three for China securities business – source
HONG KONG (Reuters) – Citigroup has hired three bankers for its planned China securities business, according to a person familiar with the matter. It hired …
Citigroup makes small cuts in mortgage workforce as housing market cools
(Reuters) – Citigroup Inc on Friday said it has slightly trimmed its mortgage workforce, due to an internal streamlining of functions. Less than 100 positions …
Citigroup plans 500 hires for new wealth unit – Bloomberg News
(Reuters) – Citigroup Inc is planning to hire 500 employees over the next three years for a new wealth division, Bloomberg News reported on Tuesday, …
Barclays enlists Citigroup to help with share buyback
LONDON – Barclays has entered into an agreement with Citigroup for the latter to conduct a buyback of Barclays’ shares on behalf of the British …
Guggenheim lures oil and gas bankers from Citigroup -sources
By David French (Reuters) – Guggenheim Securities has hired three investment bankers from Citigroup Inc’s oil and gas team, people familiar with the matter said, …
Citigroup creates new Asia leadership structure – memo
By Scott Murdoch HONG KONG – Citigroup Inc has created a new regional leadership structure for its Asian business, according to a memo seen by …
Banks diversity push sees Citigroup recruit associates in U.S. from outside finance
By Elizabeth Dilts Marshall NEW YORK – Facing intense competition for talent and pressure to hit diversity goals, banks are getting more creative in their …
Delighted Citigroup chief calls Buffett’s investment ‘wonderful’
By Tom Sims FRANKFURT – The timing of Warren Buffett’s recent investment in Citigroup Inc was not known in advance by the U.S. lender, Chief …
Citigroup says Russia unit to be sold had $32 million revenue in Q1
NEW YORK – Citigroup’s Russian consumer banking franchise that has been put up for sale had first quarter revenue of $32 million, down 6% from …
Citigroup acknowledges trader error in sudden fall of European shares
NEW YORK – Citigroup Inc acknowledged late on Monday that one of its traders made an error in the sudden fall of European shares early …
Citigroup CEO: covering employee travel costs for abortions not statement on ‘sensitive issue’
NEW YORK – Citigroup Chief Executive Jane Fraser said Tuesday that the bank’s policy of reimbursing employee travel to get reproductive healthcare services, including abortions, …
Citigroup says Mexico unit buyer’s nationality not decisive, despite government preference
MEXICO CITY – The nationality of who buys Citigroup’s Mexican unit, known as Citibanamex, will not be the deciding factor despite the Mexican government’s preference …
Citigroup appoints new Asia Pacific wealth boss
HONG KONG – Citigroup Inc said on Tuesday it appointed Angel Ng to lead its Asia Pacific global wealth management business. Ng, currently Citigroup’s Hong …
Citigroup says operating Russia consumer business on ‘more limited basis’
NEW YORK – Citigroup Inc said on Wednesday it is operating its Russian consumer business on a more limited basis following the country’s invasion of …
Citigroup to hire new compliance chief, reporting to general counsel
NEW YORK – Citigroup Inc will search for a new compliance chief as its general counsel takes on oversight of compliance functions in keeping with …
Citigroup hikes U.S. equities to ‘overweight’, sees demand for growth stocks
– Citigroup upgraded U.S. equities to “overweight” rating on Thursday on analysts’ expectations of a revival in appetite for growth stocks due to a sharp …
Citigroup taps insider Titi Cole to lead legacy franchises – memo
– Citigroup Inc named Titi Cole as the chief executive officer of its legacy franchises segment, primarily consisting of the consumer businesses that the bank’s …
Citigroup executives test positive for COVID, will hold virtual event Wed
By David Henry NEW YORK – Citigroup Inc Chief Financial Officer Mark Mason and investment banking head Paco Ybarra have tested positive for COVID-19, forcing …