Citigroup cutting more jobs to meet CEO’s expense goals despite strong quarter
Citigroup will cut more jobs this week to meet Chief Executive Officer Jane Fraser's expense goals, Bloomberg News reported Thursday, citing people familiar with the matter. The managing directors of wealth and technology will step down, and Citi will also lay off members of the team that compiles data and analytics for the bank's clients, […]
Citigroup joins US lenders in exiting Net-Zero Banking Alliance – Yahoo Finance
(Reuters) – U.S. bank Citigroup said on Tuesday it would withdraw from the Net Zero Banking Alliance (NZBA), a group of global banks committed to curbing greenhouse gas emissions. The move makes Citigroup the third major U.S. financial institution to leave the group, following Wells Fargo and Goldman Sachs, which departed earlier this month. Financial […]
JPMorgan Chase, Bank of America, Citigroup and Wells Fargo Consolidate Power Over Banking Industry Amid Record Profit Share: Report – The Daily Hodl
America's biggest banks are poised to capture the largest share of banking industry profits in nearly a decade after explosive profit growth. According to the Financial Times, the four largest U.S. banks – JPMorgan Chase, Bank of America, Citigroup and Wells Fargo – posted a combined profit of $88 billion in the first nine months […]
Richard Parsons, former Time Warner CEO, Citigroup chairman dead at 76
Richard D. Parsons, a longtime banking executive who took the helm of telecommunications company Time Warner during a difficult time and helped Citigroup weather the financial crisis, died Thursday at the age of 76. Parsons, a prominent black businessman, also helped the NBA's Clippers overcome a racial discrimination scandal. Parsons is widely credited with helping […]
Citigroup slashes banker promotions in cost-cutting drive: report
Citigroup CEO Jane Fraser plans to cut the number of bankers receiving year-end promotions as the Scottish-born executive looks to cut costs, according to reports. The Financial Times reported on Tuesday that just 2,000 Citi employees could expect an early Christmas gift of a pay rise or senior title, down from 8,000 a year earlier. […]
Citigroup probed over ties to Russian billionaire Suleiman Kerimov: report
Citigroup is under investigation by U.S. government agencies over its ties to sanctioned Russian billionaire Suleiman Absaidevich Kerimov, Bloomberg News reported This was disclosed on Thursday, citing a person familiar with the matter. The Justice Department, Federal Bureau of Investigation and Internal Revenue Service are investigating the bank's cooperation with Delaware-based Heritage Trust, which holds […]
American Airlines in talks to pick Citigroup over rival bank Barclays for crucial credit card deal, sources say – CNBC
An American Airlines Embraer E175LR (front), an American Airlines Boeing 737 (center) and an American Airlines Boeing 737 parked at LaGuardia Airport in Queens, New York City on May 24, 2024. Charlie Triboreaux | AFP | Getty Images American Airlines Under negotiation Citigroup Becoming an exclusive credit card partner and forcing rival issuers out Barclays […]
Citigroup protesters blocking HQ entrance claim employee shouted ‘Get a machine gun and f–king kill them all’
As protesters blocked an entrance to the New York headquarters of financial giant Citigroup this week, a woman said to be a Citigroup employee was caught on video losing her cool, yelling, “Beat them over the head!” and “Get a machine gun and kill them all!” The video footage, obtained exclusively by The Washington Post, […]
Citigroup has now been fined more than half a billion dollars after CEO Jane Fraser staked her tenure on fixing the bank – Fortune
Two government regulators on Wednesday fined Citigroup Inc. $135.6 million for failing to resolve long-running internal control and risk problems, a blow to the bank’s Chief Executive Officer, Jane Fraser, who has staked her career on making the bank leaner and less complex. The penalties were imposed by the Federal Reserve and the Office of […]
Government fines Citigroup $136 million for failing to fix longstanding internal control issues – The Associated Press
NEW YORK (AP) — Two government regulators on Wednesday fined Citigroup $135.6 million for failing to resolve long-running internal control and risk problems, a major blow to the bank’s CEO, Jane Fraser, who has staked her career on making Citi leaner and less complex. The penalties were imposed by the Federal Reserve and the Office […]