April 6, 2022
Via: Banking DiveCiti is the financial institution responsible for managing all credit cards for House offices, and members of Congress use the bank’s cards to pay for flights, supplies and other goods, the letter’s authors wrote. “By choosing to underwrite travel to […]
April 5, 2022
Via: American BankerCitigroup agreed to sell its consumer banking operations in Bahrain to Ahli United Bank BSC as part of the lender’s continued push to simplify. The transaction includes Citigroup’s retail banking, credit card and unsecured-lending businesses, and excludes the firm’s institutional […]
March 30, 2022
Via: Banking DiveIndia marks the ninth market from which Citi has solidified its retreat in the past 12 months. The bank laid out a strategy last April to exit from retail operations in 13 markets, concentrating instead on four hubs with higher […]
March 14, 2022
Via: Banking DiveMarch is turnover season. Banks have doled out their year-end bonuses. Bankers reevaluate their prospects. Some jump. So the departure late last week of three Citi executives in two separate announcements may not measure more than typical annual flight. Then […]
December 20, 2021
Via: FinTech FuturesOriginal consortium investors BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, JP Morgan, and State Street all participated in the round. The platform was incubated in Citi and launched in the UK in 2018, following a collaborative pilot partnership with […]
July 8, 2021
Via: Banking DiveIn the days after a group of 13 junior analysts at Goldman Sachs presented to their managers a self-survey detailing “inhumane” 100-hour workweeks, deteriorating physical and mental health and a souring outlook for the future, CEO David Solomon sent a […]
June 30, 2021
Via: FinTech FuturesBank of China, BNY Mellon, BNP Paribas, Citi, Deutsche Bank and Standard Chartered have all confirmed they’re making preparations to adopt the platform. Swift has recently rolled out a new roadmap for the platform, claiming it will allow banks “to […]
June 16, 2021
Via: Banking DiveBank executives have been warning that recent gains were likely unsustainable. This week’s comments from Mason, Dimon and Morgan Stanley CEO James Gorman show a shift to expectation-management mode — not by stressing that the current trend is bleak but […]
June 7, 2021
Via: Banking DiveCiti is looking to redouble its effort to grow its U.S. branch footprint, CEO Jane Fraser said Friday at the virtual Bernstein Strategic Decisions Conference, according to Business Insider. “I don’t believe branches are dead yet,” she said. “We will […]
April 5, 2021
Via: Banking DiveCiti’s hiring of Blanco comes as the bank is retooling its risk management, data governance and internal controls in light of a $400 million fine the Office of the Comptroller of the Currency (OCC) levied against it in October. The […]
March 29, 2021
Via: Banking DiveOn the surface, it may seem at times Citi has the progressive market cornered. This month, it became the first Wall Street bank to elevate a woman to CEO. In 2018, it became the first large U.S.-based bank to commit […]
March 24, 2021
Via: Banking DiveWith her memo, Fraser becomes the first CEO of a large, U.S.-based bank to embrace a hybrid schedule in writing. There will be exceptions to the three-and-two workday ratio, Fraser wrote. Some branch and data-center jobs, for example, can’t be […]
Activity, Investment Banking, Retail Banking
March 2, 2021
Via: Banking DiveFor all the anticipation of leadership change at Citi — the bank announced in September that Jane Fraser would become the first woman to lead a U.S.-based bank of its size, and hints of her ascent were predicted as early […]
January 22, 2021
Via: Banking DiveEmployees at the nation’s six largest banks got an average raise of $271 in 2020, Bloomberg reported Thursday. Even for someone making $50,000 a year, that comes out to a pay bump of half a percentage point. And the penny […]
January 11, 2021
Via: Banking DiveGoldman Sachs and JPMorgan will suspend contributions to both political parties for six months. “The country is facing unprecedented health, economic and political crises,” Peter Scher, JPMorgan’s head of corporate responsibility, told CNBC. “The focus of business leaders, political leaders, […]
December 28, 2020
Via: FinTech FuturesSome hefty penalties have hit headlines this year, punishing a range of indiscretions including market manipulation and money laundering. Here are the largest regulatory penalties announced this year. 10. Commerzbank fined £37.8 million by FCA for AML failings The UK’s […]
December 21, 2020
Via: Banking DiveNone of the largest banks fell beneath their capital minimums under the Fed’s hypothetical stress scenarios, which assessed how banks are navigating the coronavirus pandemic, the central bank said. Due to the strong performance from banks in the second stress […]
December 17, 2020
Via: Banking Dive“People may need a break to pursue personal interests, education, they may have a family situation going on, they may just need to take a break to care for their well-being,” Diane Arber, head of human resources for the bank’s […]
December 10, 2020
Via: Banking Dive“Oh my.” Those words, in a 9:51 a.m. chat on the day Citi mistakenly transferred $900 million to 315 creditors of cosmetics giant Revlon, marked Vinny Fratta’s initial realization of how extensive the error might be. A trial, centered on […]
October 12, 2020
Via: Banking TechnologyThe South Dakota-based bank was found to have “deficiencies” in enterprise-wide and compliance risk management, as well as its data governance and internal controls. As well as paying a hefty fine to the US Treasury, Citi will also have to […]