Page 4 - Citigroup

Citigroup MD accuses ex-bosses of 'horrifying' sexual assault, harassment

She says she finally decided to end their relationship in October 2022, after which he subjected her to an "onslaught of shocking abuse via hundreds of text messages and incessant phone calls

Citigroup cuts 300 senior manager roles in latest rejig, says report

"Building a winning bank requires a great deal of commitment, hard work and resilience from each of us," Fraser said in a memo to staff. "I'm fully aware we're asking a lot of our people"

Citigroup discriminated against Armenian-Americans, says federal regulator

Citigroup intentionally discriminated against Armenian Americans when they applied for credit cards, the Consumer Financial Protection Bureau said on Wednesday, as the bank argued internally that Armenians were more likely to commit fraud and referred to applicants as bad guys or affiliated with organised crime. The CFPB found that Citi employees were trained to avoid approving applications with last names ending in yan or "ian" the most common suffix to Armenian last names as well applications that originated in Glendale, California, where roughly 15 per cent of the country's Armenian American population lives. As part of the order, Citi will pay USD 24.5 million in fines as well as USD 1.4 million in remedies to impacted customers. In its investigation, the bureau found that Citi employees were instructed to single out applications that had Armenian last names, but then to conceal the real reason on why those applications were denied. Employees would be punished if they failed t

Citigroup considering at least 10% job cuts in major businesses: Report

The bank has warned of job cuts as part of a sweeping overhaul it unveiled in September, but has said it will estimate the scale of layoffs and cost savings in the current quarter

Citigroup profit holds steady in Q3 as investment banking fees jump

The bank's trading unit also boosted revenue, while its division providing treasury and securities services to corporations brought in 12% more revenue

Citigroup to sell China's consumer wealth business worth $3.6 bn to HSBC

The deal covers total deposits and investment AUMs of about $3.6 billion, and is expected to close in the first half of 2024. Financial details of the transaction were not disclosed

Citigroup raises China's GDP forecast, says economy has bottomed out

"The cyclical bottom is here, with all eyes on whether organic demand will pick up amid gathering policy momentum," wrote economists led by Yu Xiangrong

Citigroup warns UK staff of cuts as hundreds of roles could be affected

Bankers have been bracing for change after CEO Jane Fraser said earlier this month that Citigroup, the third-largest US

Citigroup prepares for job cuts as it revamps top management structure

The moves will result in a number of job cuts, though the company doesn't yet have firm targets for how many employees will be affected

Citi mulls plan to split institutional clients group in overhaul: Report

The plan would split the Institutional Clients Group into its three primary business segments: investment and corporate banking, global markets and transaction services, the FT report said

World Bank's return to office spurs grumbling but it comes with perks

The new president of the Washington-based bank, Ajay Banga, is pushing ahead with plans to have employees work in the office four days a week by Sept. 5

Citigroup profit drops 36% as trading slump casts cloud over earnings

Net income sank to $2.92 billion, or $1.33 per share, in the three months to June 30, the bank reported on Friday

Citigroup downgrades US stocks amid recession risks, upgrades Europe

Strategists at the brokerage downgraded UK stocks on a lack of exposure to growth stocks and a stronger pound

JPMorgan Chase cuts nearly 20 Asia dealmaking jobs in new layoff round

The moves add to a February round of cuts that affected about 30 investment bankers in Asia, and followed similar moves by Goldman Sachs Group Inc. and Citigroup Inc. last week

BofA expects Fed to deliver 2 more hikes, JPM adds July hike expectation

BofA Global Research now expects two more quarter percentage point interest rate hikes from the U.S. Federal Reserve this year

Equities, other risk assets may be hit as $800-bn stimulus fades, says Citi

The risk rally has been fuelled by the injection of over $1 trn of central bank liquidity, and high-frequency liquidity indicators suggest this is already stalling

Citigroup's Q1 profit beats estimate on higher interest income from loans

The banking sector was jolted by the collapse of Silicon Valley Bank and Signature Bank last month, which wiped out billions of dollars in market value

Citigroup CEO visits Chennai, discusses about GCC landscape in India

Citigroup CEO Jane Fraser along with top management officials visited the company's Citi Solutions Centre here and held discussions about the landscape of Global Capability Centres (GCC) in the country, the company said on Friday. On her maiden visit to Chennai and to any Citi Solutions Centre in the country, Fraser during her brief visit was engaged with teams across operations and technology on their projects and capabilities managed out of the Citi Solutions Centre. "Jane's visit to the Citi Solutions Centre in Chennai was her first to any CSC in India. For more than a decade, our CSCs have extended stellar support to Citi businesses in more than 80 countries (of Citi's total footprint in 95 countries," Citi India CEO Ashu Khullar said in a company statement. "This visit was a reaffirmation of Citi's focus on capturing the India opportunity by growing its institutional clients businesses and building scale and expertise with the exceptional talent that we have across Citi in ...

Indian origin Anand Selva appointed chief operating officer of Citigroup

Heading consumer banking in India in 2011-2014

Citi names Indian origin Selva as COO to lead risk management overhaul

Veteran company executive previously handled roles in consumer banking, retail, cards