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...For more than a decade Citi has operated with two divisions: ICG and a consumer-focused division that includes Citi’s retail bank, credit cards and wealth management....
...and credit card businesses....
...New York attorney-general Letitia James filed a lawsuit against Citibank on Tuesday for allegedly “failing to protect and refusing to reimburse” victims of online fraud....
...He said (inaudible) a card game, which is basically a maths game. I heard you’re good at maths. You should enter that game and if you win you can get a job in. And that’s what I did....
...this: I was hungry,’ writes Gary Stevenson in his recently released memoir, The Trading Game, which tells the story of how the son of a Post Office worker briefly became the highest-paid trader working on Citi...
...Citibank has won an employment lawsuit against a banker who was dismissed for submitting an expenses claim that included coffee and sandwiches for his partner and lying about it....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...DIANE GLOSSMAN: You had on the one hand Citi that had a huge business around the globe, known to be an innovator in technology and credit card....
...“The level of debt has been rising a lot, and credit card loans carry the highest rates of most consumer debt,” said Robert Sockin, a global economist at Citi....
...All LOBs, including the other two—Personal Banking (29%, mostly cards) and Global Wealth (11%)—should have more clarity from better 2024 disclosure....
...“We had Citi on a call again on Friday . . . They are insisting on inspections, which we will have to do on the containers that are arriving at port....
...Citibank said it is targeting a move to parity “within six months” given its “ongoing view of European recession well ahead of the US”....
...There were limited signs of those cracks in Citi’s third-quarter results. Revenue from credit cards that Citi issues in the name of Costco and other chain retailers rose 21 per cent from a year ago....
...Citibank, one of the world’s largest foreign exchange trading banks, said that hedge funds had switched from positioning for a decline to betting on the dollar’s appreciation....
...Spending on the bank’s credit cards helped raise revenue in its consumer banking division by 12 per cent, while corporate spending helped push up revenue in Citi’s treasury services division, which manages...
...It concerned a man named Szabolcs Fekete, who was a senior analyst at Citibank until he claimed two coffees and two sandwiches on expenses after taking his partner on a business trip to Amsterdam last year...
...By comparison, loan loss provisions dropped at Citi, JPMorgan and Wells Fargo, by 33 per cent, 32 per cent and 29 per cent, respectively, from their previous quarters....
...A maths whizz as a child, Gary won an internship off the back of a card game when he was at the London School of Economics....
...Credit card spending at retailers dropped nearly 11 per cent last month, Citi reported this week, based on data from the bank’s own card customers....
...Citi....
...Citi’s symbolic sandwich sacking suit This story was, gloriously, the most read on FT.com for most of yesterday: Citibank has won an employment lawsuit against a banker who was dismissed for submitting...
...The current government will be hoping that this bubbling imbroglio remains just this side of collapse until the election, which is possible, but a new government won’t have extra cards to play....
...He joined a team including Aaron Hoover, who joined from Greenhill about a decade ago, and Paul Kwak, who joined in 2014 from Citibank....
...Citi was also a leader on a $310mn loan to Sunbit, a buy-now, pay-later company that specialises in auto repair shops and dentist offices....
...BofA, Citi, JPMorgan and Wells will be the first of the large banks to disclose their results for the final three months of 2023 on January 12....
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