Citigroup has entered the final phase of an extensive overhaul to streamline its operations and enhance performance.
Citigroup
Citigroup has sold its non-US consumer business operations in nine out of 14 regions and "substantially wound down" three more in Korea, Russia, and China.
Citigroup CEO Jane Fraser has received an encouraging nod from billionaire investor Warren Buffett to proceed with the bank's overhaul.
Citigroup Inc. is reportedly closing its global distressed-debt group as it undergoes further restructuring under CEO Jane Fraser's leadership.
Citigroup Inc. is reportedly facing delays in its plans to establish a fully-owned securities business in China.
The banking investments in U.S. have made a come back. Their patience is now rewarded. JP Morgan and Citi standout this third-quarter.
JPMorgan Chase has advised its shareholders to vote against the proposal to split up the bank. The bank warned its shareholders that the breakup proposal will not benefit its investors.
Fees in investment banking sector across the world declined 29% during the first three-month period of 2016 as uncertainty in the global market halted deal proposing activities and other investment events.
The analyst at Keefe, Bruyette & Woods believed the breakup would increase shareholders value by 57%. However, Citigroup has asked its shareholders to vote against the too-big-to-fail proposal.
U.S. coal industry is facing tough times as one by one files Chapter 11. Due to high debts, decline in demand and stricter regulations, most have no other choice but to shut down. Lately, Peabody Energy announced that it may go bankrupt.
Shareholders of two U.S. prominent banks will vote later this year regarding the breakup plans for the banks. However shareholders are predicted to decline the plan submitted by liberal lobby activist.
Citigroup is reportedly in negotiation to appoint Armando Diaz as the global leader of capital equities trading. These appointments signify the bank's effort to construct a robust stock offering business.
As Costco will replace its credit card from Amex to Citigroup, a new leader credit card will emerge. Chase will take over the throne of sales volume from Amex.
Alibaba plans of expanding and venturing into other business the reason it is seeking $4 billion in loans. It is already in talks with several banks and the request will be finalized by next month.
Citigroup raises salary of its CEO to $16.5 million in 2015. The bank has managed to be more efficient in operation under Corbat's leadership and passing mandatory stress test.
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