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 market that has attracted significant attention in…
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 direct knowledge of the matter. Citigroup is…
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. “The economics of these activities are no longer…
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 sued the company this week, alleging she…
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 on Monday. “The actions we’re taking to…
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 Friday, adding that talks with interested investors…
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 for a senior role, according to sources…
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 to “underweight” due to high exposure to…
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, and that there was “no room for…
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 retail customers without complying with disclosure obligations.…
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 forecast of a September hike. According to…
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” over the next three quarters. The Wall…
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, according to an internal memo seen by…
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 the U.S. economy, as well as, an…
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 natural resources and clean energy transition group…
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 the lender’s ambitions in the business as…
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 a recession. Financial markets have had a…
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 to about 4% by July. Economists led…
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 the matter said on Thursday. A Bloomberg…
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 Russia, as of the end of last…
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 bank undergoes a strategy refresh under Chief…
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 as some analysts remain critical of the…
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 talent war on Wall Street even amid…
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 priced-in. The U.S. bank upgraded its view…
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 by Reuters. For the bank, which named…
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 order issued two years ago requiring the…
Breaking News
