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...It also comes as Citi is cutting thousands of jobs as part of big reorganisation. A Citi spokesperson said: “Enhancing client experience is our number-one focus....
...WPP’s Ogilvy advertising agency is creating a division specialising in online “health influencers” to help pharmaceutical companies tap a trend towards personalised health and combat misinformation....
...Also, “Citi is neither endorsing cryptocurrencies nor providing a view or recommendation on a particular cryptocurrency. Nor does Citi have a view on the regulatory status of cryptocurrencies.” Etc....
...We est. that Citi’s market value implies an ROTCE of only about 5-6%, or about half Citi’s target of 11-12% in 2025E-2026E. (c) 1 LOB (“Services”) = almost all of Citi’s market cap....
...“There’s been a strong external and as well as internal in Citi reaction to someone of Vis’s capability and stature joining Citi in this role,” said David Livingstone, Citi’s chief client officer....
...Citi offers attractive value relative to its peers. Currently, Citi’s price to tangible book value ratio — at just 0.6 times — is the lowest among the largest US banks....
...The changes Fraser outlined last year are resulting in at least 20,000 job cuts at Citi, the third-largest US bank by assets....
...The biggest profit driver was Citi’s corporate and investment bank, where fees jumped about 50 per cent from a year ago....
...The World Bank and Citi have launched a $100mn bond to combat waste, with repayments partly determined by the sale of plastic and carbon offset credits....
...Holy God Citi’s done a deep-dive on PMIs. Everybody loves PMIs right?...
...Fraser said Raghavan would start at Citi in the summer....
...In October, Citi sold its Chinese consumer wealth business to HSBC....
...“To be fair, in the last 20 years or so HPE missed some of the trends, even though we understood the trends . . . That’s why the next inflection point is a very important inflection point,” he said....
...This perhaps suits TikTok’s general trend towards extreme interpretations of just about anything....
...What tipped the index euphoric, notes Scott Chronert at Citi, was limited options hedging and rising margin debt: Next, momentum....
...At Citi, the metric eked out a 1 per cent year-on-year gain but fell quarter on quarter....
...Nvidia, which reports its fourth-quarter results in late February, has experienced the most direct continuation of last year’s AI-focused trend....
...asks Citi’s chief human resources officer Sara Wechter....
...But he does need to get Citi to resemble something like JPMorgan’s scale model....
...Citi says the reorganisation will wipe out five layers of management, cutting them down to eight from 13, with the heads of Citi’s five business units reporting directly to Fraser....
...JPMorgan, Citi and Wells will report earnings on April 12. Goldman Sachs publishes results on April 15 while Morgan Stanley and BofA will do the same the following day....
...But the legal attacks owe as much to the unexpected speed at which the Chinese industry can capitalise on the latest TikTok trends....
...But it is impossible to deny the overall trend....
...Reuters was the first to report the filing as well as other details of Citi’s expansion plans. Citi declined to comment on the filing....
...Citi’s transaction services division also reported one of its best quarters in years....
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