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...Citigroup has started tracking how many calls its private bankers are making to clients as the US lender tries to jump-start its struggling wealth management business, according to people familiar with the...
...Citigroup reported better than expected quarterly profits as the bank said it was on track to shed 7,000 jobs this year, a sign that the revamp of the US’s fourth-largest lender may be starting to pay off...
...The quant team at Citigroup has a take on the trope. It asks: What happens if an investor adds bitcoin to their 60/40 portfolio?...
...Citigroup has appointed top JPMorgan investment banker Vis Raghavan as head of banking, completing its new management team and attempting to jump-start an underperforming business....
...Mortgage origination volume looks set to grow again in 2024 after falling to its lowest level in nearly 30 years, according to the Mortgage Bankers Association....
...Or at least, they love to hate them; Citigroup is currently in the middle of a big project to remove layers of management, and Goldman Sachs recently had quite a nasty internal conflict partly driven by...
...Citigroup has been in a far worse position after divesting Smith Barney near the market bottom....
...At $170bn, its market valuation towers over that of Goldman Sachs, Morgan Stanley and Citigroup. Intuit is best known for its small-business accounting and DIY tax-filing software....
...Citigroup plans to deepen its involvement in China’s financial markets with the launch of an investment banking unit in the country, even as rivals grow more cautious there....
...Citigroup has agreed to disclose its relative levels of financial support for low-carbon energy versus fossil fuels — what’s known as a green financing ratio....
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...Within that number, practically the entirety of our new mortgage lending would have to be green.”...
...It was used for decades to underpin trillions of pounds of products around the world such as loans and mortgages....
...He was previously at Citigroup. Norfolk Southern has nominated two board candidates as it seeks to fend off a shareholder-activist group....
...Citigroup said it expected to cut at least 20,000 jobs, about 10 per cent of its workforce, as the struggling US bank reported its worst quarter in 14 years....
...Citigroup plans to announce on Monday the first big round of lay-offs in a sweeping restructuring — the bank’s biggest revamp in nearly two decades — that will eventually result in thousands of positions...
...But they made up 87 per cent of Nordstrom’s total operating income in 2022 and 55 per cent of Macy’s, according to Citigroup....
...The odds are it will be coming from card-issuing banks such as JPMorgan, Citigroup or Bank of America rather than Visa or Mastercard. Banks have plenty of ways to offset lower interchange fees....
...And the riskiest business to be in was subprime mortgage. So Citi ran right into it....
Relationship status: it’s complicated
...They sent her around first to the mortgage business, then to the retail business and then to the Mexico business....
...Since taking the helm at Citigroup in March 2021, the 56-year-old has cut jobs and ditched retail banking operations in 14 overseas markets. In September, she announced an even bigger shake-up....
...The global financial crisis of 2008 was the result of unprecedented dysfunction and perversion of the mortgage securities market....
...His emphasis below: Investors repeatedly tell us — “Don’t talk to me about Citigroup!” To us, this negative sentiment creates a more favorable setup for a potential double in the stock over 3 years....
...Commercial property, and in particular mortgages on office buildings with low occupancy rates, have been a big concern for lenders since the Fed started lifting interest rates....
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