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Smith Barney seeks restraining orders against four ex-reps
Smith Barney, facing a rising number of broker departures from its branches, this month hit four ex-reps and a rival broker-dealer with a lawsuit.
Feds might take 40% stake in Citigroup
Citigroup Inc. is reportedly negotiating with government officials to have the U.S. boost its stake in the troubled…
Researcher slams Citi, McGraw-Hill and Merrill boards
Citigroup Inc., The McGraw-Hill Cos. and Merrill Lynch & Co. Inc. had directors who sat on too many other corporate boards and who received an unusually high percentage of disapproval votes from shareholders, a research firm said today.
More broker-dealers join hiring protocol
A growing number of independent brokers and advisory firms are joining the industry's recruitment protocol to take advantage of a ripe hiring market.
Firms still face big ARS claims
Despite having settled regulatory actions involving auction rate securities, the big Wall Street firms aren't out of the woods yet.
Treasury survey: Lending flat despite bailout
Banks that received money from the federal government’s bailout program did not increase their lending activity, according to a survey of lending activity.
Banks bail out of jets
As if Bank of America Corp. and Citigroup Inc. needed additional exposure to bad assets, the banking behemoths are now both trying to sell some of their corporate jets — and are facing rather substantial head winds.
Citigroup’s top private-bank exec leaves
John Longley, who was chief executive of Citi Private Bank in the United States and Canada, has left “to pursue other opportunities.”
Citigroup’s Weill to bow out in April
Sanford “Sandy” Weill has officially cut himself off of Citigroup Inc.’s payroll, putting an early end to a decade-long consulting contract with the foundering bank.
Citi rearranges top tier as split-up nears
Vikram Pandit has reshuffled the top ranks at Citigroup Inc. several times since becoming chief executive 13 months ago.
Citigroup says nyet to $50 million jet
Citigroup Inc. has scrapped plans to take possession of a $50 million corporate jet in the wake of an outcry over how bailed-out banks should be spending federal funds.
Survey: Morgan-Citi deal to fuel flight to indie B-Ds
An overwhelming majority of wirehouse representatives believes that the impending merger of Morgan Stanley and Smith Barney will prompt more advisers to go independent.
Citigroup pins hopes on Parsons
Citigroup Inc. of New York has announced that Richard Parsons will become the struggling bank's new chairman, succeeding Sir Winfried F.W. Bischoff.
Citi’s top three to forfeit ’08 bonuses
Chief executive Vikram Pandit, chairman Sir Winfried Bischoff and chief financial officer Gary Crittenden told Citigroup's compensation committee that they didn’t want to be considered for any form of incentive or retention payment.
Reports: Citi to cut loose Japan brokerage
On the heels of a devastating $8.3 billion fourth-quarter loss announced on Friday, Citigroup Inc. is planning to sell its Japanese retail brokerage, according to published reports citing people familiar with the matter.
Citigroup’s private bank unit not seen as leader
Post-Smith Barney, Citigroup Inc.'s hopes for capturing a greater share in the ultra-high-net-worth segment of the wealth management market will rest largely with its private bank unit.
Tale of 2 Citis fails to impress investors
The breakup of Citigroup Inc.'s financial supermarket into core and non-core pieces was seen by investors Friday as accomplishing little.
Who wins at the new MSSB?
Here’s my prediction as to who will emerge as eventual winners in the Morgan Stanley Smith Barney joint venture: sign makers, business card printers and James Gorman, as well as a small circle of other top managers.
Meet Morgan Stanley Smith Barney
The new combination provides an “unmatched global platform,” the firms said, with $1.7 trillion in client assets and more than 20,000 reps.
Citi C-suite execs looking over their shoulders
If media reports are to be believed, no one’s job is safe in the executive suite at Citigroup Inc.
