Displaying 399 results
Citi’s Pandit to ax 52,000 jobs
The company said it plans to cut its total head count by about 20% from its peak level of 375,000 in 2007 and cut expenses by nearly 20% from their peak.
Recruitment deals slim down
The bull market in broker recruitment deals has peaked.
Citigroup memo launches war of words
Citigroup Inc. brought out the big gun Friday with a pointed memo that lays waste to recent reports of rifts between the company's board and top management.
Report: Citi to slash 10,000 more jobs
In a massive new round of layoffs, Citigroup Inc. is cutting at least 10,000 jobs in its investment bank and in other divisions throughout the world, according to The Wall Street Journal, which cited people familiar with the matter.
Citi Global Markets fined $300,000
Finra has fined Citigroup Global Markets, the brokerage and securities arm of Citigroup Inc., $300,000 for failing to reasonably supervise the commissions that its brokers charged their clients on stock and options trades.
Citi to work with 500,000 at-risk homeowners
Citigroup Inc. has become the latest major bank to unveil plans to help distressed homeowners avoid foreclosure.
Citi said to eye buying a regional bank
Citigroup Inc. is in discussions to buy another U.S. bank perhaps as soon as this month, the Wall Street Journal reported today.
Massive layoffs begin at Citi, Goldman Sachs
Citigroup Inc. and The Goldman Sachs Group Inc. began handing out pink slips to a combined total of 12,000 workers this week, according to published reports.
Struggling Citi bids farewell to No. 1 spot
Citigroup Inc., Vikram Pandit's now-wounded banking giant, is scrambling to cut costs and shed troubled assets, as rivals seize opportunities to fill the void left by Citi's retreat.
Report: Goldman Sachs sounded out Citi
The Goldman Sachs Group Inc. has approached Citigroup Inc. about the possibility of merging operations at the two New York-based companies, a person familiar with the matter told the Financial Times.
Merrill, Citi, State Street, PNC and BNY Mellon
Merrill Lynch & Co. Inc. and Citigroup Inc. were walloped by third-quarter losses, while State Street Corp., The PNC Financial Services Group Inc. and Bank of New York Mellon Corp. posted profits.
Wachovia reps welcome takeover by Wells Fargo
Brokers at Wachovia Securities LLC are relieved that the back-and-forth saga over the fate of their parent company has ended.
Wells Fargo: Wachovia merger still on
Wells Fargo & Co. of San Francisco said late Thursday that it is proceeding with its proposed acquisition of all of Wachovia Corp. of Charlotte, N.C.
Wachovia reps welcome Wells Fargo news
Late last Thursday, Citigroup Inc. of New York said it was ending talks with Wells Fargo and Co. about how to divvy up the assets of Charlotte, N.C.-based Wachovia Corp.
Citi kills talks with Wells Fargo
Citigroup Inc. of New York has ended negotiations with Wells Fargo & Co. of San Francisco over the Wachovia transaction, according to a statement by Citigroup released early this evening.
Putnam names head of global marketing
Putnam Investments today named Jeffrey R. Carney to the newly created position of senior managing director and head of global marketing and products at the Boston-based firm.
Snit in the Citi on Wells’ unwelcome offer
With its stock down 18%, Citigroup is trying to keep its federally backed deal to buy Wachovia’s banking unit alive amid a competing offer Friday from Wells Fargo.
Citi slims down mortgage biz
As part of its downsizing plan, the New York-based financial services giant will cut the number of outside mortgage brokers with whom it does business in the United States to around 1,000 from about 9,500.
Smith Barney cutting managers, branches
The firm is also streamlining its retail management structure by consolidating four divisions into two and cutting the number of regions from 20 to about a dozen, sources say.
Citi, Wells Fargo may split Wachovia
Brokerage, asset management and Western bank branches would go to Wells Fargo, with Citi taking branches in the East.
