Citigroup

Citi India nears $1 billion in asset-backed securities amid rising demand

India's relatively small securitization market has been heating up, led by a surge in originations by non-bank lenders and growing appetite for bundled debt from banks and mutual funds

Citi's Wall Street rebound turns Vis Raghavan into CEO contender

Citigroup has scaled the M&A advisory ranking and displaced rivals on at least two recent deals

Citigroup shifts 1,000 tech jobs to India amid China cuts, H-1B fee hike

Earlier this year, Citi announced that it would cut around 3,500 jobs at its technology centres in China as part of a global effort to simplify and shrink global tech operations

Piyush Gupta appointed alternate member of Singapore presidential council

Indian-origin banker Piyush Gupta has been appointed as an Alternate Member of the Council of Presidential Advisers in Singapore for four years. President Tharman Shanmugaratnam made the appointment on the advice of Prime Minister Lawrence Wong, the President's Office said in a media release on Thursday. Now a Singapore citizen, the 65-year-old has a Bachelor of Arts (Honours) Degree in Economics from St. Stephen's College, Delhi University, and a Post Graduate Diploma in Management from IIM, Ahmedabad. Gupta, from Meerut, was awarded the Public Service Star by the Singapore President for his meritorious services to the nation in 2020. He is a recipient of the 2023 Pravasi Bharatiya Samman Award, the highest honour conferred by the Indian government on the country's diaspora. Gupta was the Chief Executive Officer and Director of the DBS Group from November 2009 to March 2025. Under his leadership, the DBS Group underwent a significant and successful transformation, and had set up

Citigroup, GS, others buy 15.67% stake in Medi Assist Health for ₹578 cr

The shares were purchased at an average price of Rs 522.70 apiece, taking the transaction value to Rs 577.84 crore

Citigroup profit beats analyst estimates, shares rise on buyback plans

Shares jumped 3.3 per cent after the bank announced it would buy back at least $4 billion in stock in the third quarter

Morgan Stanley, Citigroup, 6 others buy 1.6% stake in Delhivery for ₹461 cr

Morgan Stanley, Citigroup Global Markets Singapore and six other entities on Thursday bought a 1.6 per cent stake in logistics solution provider Delhivery for Rs 461 crore through open market transactions. Besides, HDFC Mutual Fund (MF), Axis MF, Tata MF, ASK Asset & Wealth Management, Hill Fort Capital and Hong-Kong-based investment manager Viridian AM purchased shares of the Gurugram-based Delhivery, as per the block deal on the NSE. The entities picked up over 1.19 crore equity shares or 1.6 per cent stake in the company at an average price of Rs 387, taking the combined value to Rs 461 crore. Meanwhile, venture capital firm Nexus Venture Partners, through its affiliates Nexus Opportunity Fund and Nexus Ventures III, offloaded an equal number of shares at the same price. In the March quarter, Nexus Ventures III owned a 5.88 per cent holding in Delhivery. Shares of Delhivery slipped 0.54 per cent to close at Rs 386.05 per piece on the NSE. In April, Delhivery announced the ...

UBS's $26 billion capital hit may be softer than it first appears

It's not that investors now know the costs of Switzerland's beefed-up "too big to fail" rules, which follow Credit Suisse's 2023 collapse. There's a lot of uncertainty about the draft law's final form

Citigroup to cut 3,500 jobs at China tech centres amid global revamp

The reduction of staff at the China Citi Solution Centres in Shanghai and Dalian is expected to be completed by the start of the fourth quarter this year

'Timely support, will offer relief': Citi on VIL dues to equity conversion

The government's decision to convert Rs 36,950 crore dues of Vodafone Idea (VIL) into equity is a "major" and "timely" display of support that will offer significant cash flow relief to the telco in the next three years and help it complete long-delayed bank debt raise, Citi said on Monday. The move also lifts concerns on tower companies like Indus Towers. "Overall, we view this as a major display of support by the government in a very timely manner, which should provide significant cash flow relief to VIL in the next 3 years and help it complete its bank debt raise," the brokerage said in its latest report. Throwing a lifeline to the troubled telecom operator, the government has decided to convert Rs 36,950 crore of VIL's outstanding spectrum auction dues into equity, under the provisions of the September 2021 telecom reforms package. The government shareholding in VIL will correspondingly increase to 48.99 per cent from 22.6 per cent. VIL promoters will, however, continue to have

Citigroup mistakenly credits customer account $81 trn in 'near miss'

A third employee caught the error one-and-a-half hours after the payment was processed and the transaction was ultimately reversed several hours later, FT said

Citigroup upgrades Indian stocks from neutral to overweight, sours on Asean

There is "meaningful upside" in Indian equities amid "less demanding" valuations, Citi said in a note

Citi raises CEO Jane Fraser's 2024 compensation 33% to $34.5 million

The compensation includes $1.5 million of base salary, $4.95 million in cash incentive and the rest in deferred incentives, the bank said

Citi beats estimates for Q4 profit, cuts return targets after 'critical' yr

Shares of the third-largest U.S. lender were last up 5 per cent in premarket trading on Wednesday after Citigroup said its board has authorized a new share repurchase program

Citigroup, BofA join US lenders in exiting Net-Zero Banking Alliance

They follow Wells Fargo and Goldman Sachs, which both left the alliance earlier this month

Richard Parsons, prominent Black executive who led Citigroup, dies at 76

Richard Parsons, one of corporate America's most prominent Black executives who held top posts at Time Warner and Citigroup, died Thursday. He was 76. Parsons, who died at his Manhattan home, was diagnosed with multiple myeloma in 2015 and cited unanticipated complications from the disease for cutting back on work a few years later. The financial services company Lazard, where Parsons was a longtime board member, confirmed his death. The NBA, where Parsons was interim CEO of the Los Angeles Clippers in 2014, was among organizations offering condolences. Dick Parsons was a brilliant and transformational leader and a giant of the media industry who led with integrity and never shied away from a challenge, NBA Commissioner Adam Silver said. Parsons' friend Ronald Lauder told The New York Times that the cause of death was cancer. Parsons stepped down Dec 3 from the boards of Lazard and Lauder's company, Este Lauder, citing health reasons. He had been on Este Lauder's board for 25 ...

Trump's easing of regulations to trigger Japan outbound M&A: Citi executive

Trump presidency will also spark business reorganisations, which would swell the number of acquisition targets for Japanese firms, Citi Japan Vice Chairman Masuo Fukuda said

Thailand aims to legalise casinos next year in win for global players

The government is working to get a so-called "entertainment complex" bill, which will allow casinos to be housed within large venues

Citigroup sells HDFC Bank's shares worth Rs 275 crore via block deal

American multinational Citigroup on Monday offloaded private sector lender HDFC Bank's shares worth Rs 275 crore through an open market transaction. Citigroup, through its arm Citigroup Global Markets Mauritius, sold 15,79,953 shares of HDFC Bank, as per the block deal data available on the BSE. The shares were disposed of at an average price of Rs 1,742.6 apiece, taking the transaction value to Rs 275.32 crore. Ghisallo Master Fund LP acquired the shares of Mumbai-headquartered HDFC Bank at the same price. Shares of HDFC Bank fell 0.48 per cent to close at Rs 1,734.30 per piece on the BSE. On October 19, HDFC Bank reported a 6 per cent increase in the September quarter net profit to Rs 17,825.91 crore on a consolidated basis. On a standalone basis, the largest private sector lender's post-tax net profit grew to Rs 16,820.97 crore during the reporting period against Rs 15,976.11 crore in the year-ago period. The company's core net interest income grew 10 per cent to Rs 30,010 cr

Citigroup profit beats estimates in Q3 on surge in investment banking

The third-largest US lender's dealmakers joined rivals at JPMorgan Chase and Wells Fargo in benefiting from a rebound in capital markets as corporate clients issued more debt and equity