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Mass. firms sue Citigroup for alleged ARS fraud
Several Braintree, Mass.-based firms filed suit yesterday in federal district court charging a Citigroup subsidiary with fraudulently selling auction rate securities while the firm was under investigation.
Citi’s 1Q profit spike: Less than meets the eye
Citigroup Inc. Chief Executive Vikram Pandit put his credibility on the line last month when he wrote a memo saying the bank, after five consecutive quarters of losses, at last was profitable. It turns out that depends on which definition of “profit” is used.
Michigan details settlement with Citigroup, Wachovia
Michigan regulators say brokerage firms Citigroup Inc. and Wachovia Corp. have paid $2.37 million to the state after an investigation into the sale of auction rate securities.
Citi’s Parsons: Banks being ‘vilified’ for financial crisis
Citigroup Inc.'s new board chairman, Richard Parsons, said financial institutions are being targeted for creating the nation's financial crisis, but they aren't the only ones responsible.
Corbat named CEO of Citi’s ‘bad bank’
Citigroup Inc. on Monday took the "interim" out of Mike Corbat's title as chief executive of Citi Holdings, the business that includes the riskier assets at the big banking company.
Citi, Wachovia pay back $4.7B to California residents
Wachovia Corp. and Citigroup Inc. have agreed to return a total of $4.7 billion to state residents who bought auction-rate securities from the companies, California regulators announced.
Report: Citi fielding bids for Nikko Cordial
Embattled Citigroup Inc. may be poised to sell Tokyo-based Nikko Cordial Corp., Japan’s third-largest brokerage firm, in hopes of raising more than $5 billion, the Financial Times reported today.
Citi CFO to become Citi Holdings chairman
Citigroup Inc. said Friday it appointed Chief Financial Officer Gary Crittenden to become chairman of the unit in charge of its riskier assets and tougher-to-manage ventures, the latest move in a massive management reshuffling at the struggling bank.
Citi awarded Pandit $37M signing bonus
Citigroup Inc. awarded Chief Executive Vikram Pandit nearly $40 million in salary and stock grants in 2008, a disastrous year in which the institution had to be rescued twice by the federal government and received $45 billion in bailout money.
Citi taps four independent directors
Citigroup Inc. today nominated a slate of four independent-director candidates to be voted on at its shareholder meeting April 21.
Pandit says Citi operating at profit through February
Citigroup CEO Vikram Pandit says the embattled bank has been operating at a profit through the first two months of the year.
Citi spent $3.5 million to reward top Smith Barney advisers
Embattled banking giant Citigroup Inc. spent about $3.5 million to provide rewards for top-performing advisers at its Smith Barney brokerage unit.
Curtain is drawing on Citigroup and BofA
The writing is on the wall for shareholders and executives of Citigroup Inc. and Bank of America Corp.
Pity Citi: Shares fall below $1
Shares of Citigroup Inc., once the most powerful U.S. bank, fell below $1 a share Thursday.
Citi to lower some mortgage payments
Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners for three months as part of a new program to help the unemployed.
Smith Barney bleeds as it prepares for merger
Smith Barney is losing brokers and advisers by the score and assets by the billions as it prepares for its new role as the junior partner to former rival Morgan Stanley in their impending joint venture.
Government to take 36% stake in Citigroup
The U.S. government will exchange up to $25 billion in emergency bailout money it provided Citigroup Inc. for…
Analysts united: Citi deal bad for bank stocks
Many analysts and money managers wondered what impact nationalization would have on other bank stocks.
Citigroup close to ownership deal with government
As Citigroup Inc. nears a deal that could see the government’s ownership in the bank increased to as…
Judge dimisses claims in Citi lawsuit
A Delaware judge has dismissed most claims in a shareholder lawsuit seeking to hold Citigroup directors liable for losses related to the subprime mortgage market.
