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Chief hurdle in fund mergers: Financing
Despite financial, legal and regulatory forces that are keeping a lid on deals in the asset management business, some large mergers and acquisitions are about to take place.
Wells Fargo Advisors snags $345M Citigroup team
Pedro Nieves, a top Citigroup adviser, and his team recently left the firm and joined the New York office of Wells Fargo Advisors.
Citigroup sells stake in Japanese asset manager
Citigroup Inc. said today it is selling its entire majority stake in a Japanese asset management company to The Sumitomo Trust and Banking Co Ltd. for about $795 million.
Citigroup phasing out platform for ’emerging affluent’
Citigroup is shutting down its myFi brand, a financial advice platform for the “emerging affluent” market, which targets people with less than $500,000 to invest.
Citigroup completes $58B stock swap
Citigroup Inc. has completed its $58 billion stock offering, a move that strengthens the struggling bank's balance sheet and makes way for the U.S. government to take ownership of a 34 percent stake.
Citigroup names former banking regulator to board
Citigroup has appointed three new directors to its board, as the bank continues to undergo a transformation and return to its focus on traditional banking.
Citigroup earns $3B in second quarter; BofA net is $2.42B
Citigroup joined four other big banks in reporting strong results for the quarter. After paying preferred dividends, the bank earned $3 billion, or 49 cents per share. It lost $2.86 billion, or 55 cents per share, during the same quarter last year.
Citigroup shuffles execs; former CFO Gary Crittenden is leaving
Citigroup Inc. said today that its former chief financial officer and current chairman of Citi Holdings, Gary Crittenden, is leaving the company as part of the bank's latest shuffling of management.
Agency slaps Citibank Japan with sales suspension
Authorities ordered Citibank's Japan unit to suspend all sales operations at its retail banking arm for one month after it failed to improve anti-money laundering measures that target crime syndicates and other shadowy groups.
Report: Citigroup plans boost in salaries
Citigroup Inc. is increasing base salaries for many of its employees, with some getting as much as a…
Citigroup completes agreement with US government
Citigroup says it finalized exchange offers with the U.S. government under which the latter will exchange up to $25 billion of Citi preferred securities for interim securities and warrants.
Citigroup to launch stock exchange offers this week
Citigroup Inc. expects to do its previously announced swaps of preferred stock into common stock later this week, the bank said in a statement Monday.
Report: U.S. pushing for shake-up at Citigroup
The Federal Deposit Insurance Corp. is pressing for a management shake-up at embattled bank Citigroup Inc., putting CEO Vikram Pandit in the hot seat, a report said today.
Travelers Cos. to replace Citigroup Inc. in Dow Industrials
Seven years after being spun off by Citigroup Inc., Travelers Cos. is supplanting its former parent as a member of the Dow Jones industrial average.
Morgan Stanley, Citigroup speed up launch of MSSB
Morgan Stanley and Citigroup Inc. said today they closed early on the launch of their joint venture that combines Morgan Stanley's wealth management unit with Citi's Smith Barney brokerage division.
Moody’s cuts rating on Citigroup subsidiary
Credit ratings agency Moody's Investors Service on Tuesday cut its bank financial strength rating on Citibank (South Dakota) N.A., a credit card and lending subsidiary of Citigroup Inc.
Citigroup TARP loans near $45B mark
Citigroup Inc. is using its $45 billion in government capital to make nearly that much in new loans.
Sumitomo Mitsui to buy Nikko brokerage from Citigroup
Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said today as part of a bigger plan to restructure the struggling U.S. bank. The deal is Japan's first acquisition of a leading brokerage by a bank.
Insider trading all in the family for ex-Citi exec, SEC charges
The former director of Citigroup Global Markets’ investment banking division in New York today was charged by the Securities and Exchange Commission with repeatedly tipping off his brother about upcoming merger deals.
BofA, Citigroup feeling weight of stress test
Bank of America Corp. and Citigroup Inc., which have each received $45 billion in government bailout funds, have been told by regulators that "stress test" results show they may need to raise additional capital, The Wall Street Journal said today.
