Citigroup Inc. has reached a deal with U.S. regulators to give the purchasers of auction rate securities their money back.The U.S. Securities and Exchange Commission’s Division of Enforcement today announced a preliminary settlement in principle with Citigroup Global Markets, Inc., including proposed charges and a plan that would give individual investors, small businesses, and charities […]
Cost of credit increased by 20%, CEO says
Citigroup Inc. today announced that it is selling its German retail banking unit for US$7.7 billion.The banking giant said it has entered into a definitive agreement to sell Citibank Privatkunden AG & Co. KGaA to Credit Mutuel, the third largest retail banking group in France. Credit Mutuel will pay all-cash consideration of 4.9 billion euros […]
Fund management company Old Land to be restructured
Citigroup Inc. has established the new position of chief innovation officer to drive cross-business, client-focused innovation across the company.The firm appointed Deborah Hopkins to the role effective immediately. Since joining Citigroup in 2002, Hopkins has held several senior roles at the company, including chief operations and technology officer and head of corporate strategy, mergers & […]
Citigroup Inc. today announced that Alberto Verme, the firm’s global co-head of investment banking, will relocate to Dubai.Verme will continue to share global responsibility for investment banking with Ray McGuire, who remains based in New York. From Dubai, Verme will help serve Middle Eastern clients, as well as facilitate access to the region and provide […]
Citigroup Inc. and State Street Corp. announced that they have entered into a definitive agreement to sell CitiStreet, a benefits servicing business, to ING Group in an all-cash transaction valued at US$900 million.CitiStreet is a joint venture formed in 2000, which is owned 50% each by Citi and State Street. The firm provides a range […]
U.S. banking giant Citigroup Inc. announced that it has commenced an offering of approximately US$3 billion of common stock, as it aims to shore up its capital position.Citi expects the offering to include an over-allotment option to purchase additional shares of common stock. The firm says that, on a pro forma basis, after giving effect […]
Rating outlook for bank is negative, Fitch says
Firm will become liquidity provider in new Tradeweb markets