Hints and tips:
...Citigroup, for example, got out of subprime lending three years ago when it sold CitiFinancial to Springleaf, owned by Fortress....
...The unit, formerly known as CitiFinancial, was the cornerstone on which Sandy Weill, former Citi chairman, built the world’s largest financial-services company....
...Last year, Citi closed down more than 300 CitiFinancial branches, stopped making loans at another 184 and rebranded the remaining 1,500 outlets OneMain Financial....
...KKR is working with BlackRock on a possible bid for the lending arm, previously known as CitiFinancial....
...CitiFinancial Europe, owned by Citigroup of the US, had 80 per cent of its credit card related complaints upheld in its customers’ favour....
...As part of the overhaul, CitiFinancial will split into two: its full-services branches and a servicing unit that only handles existing loans....
...Citigroup fell 0.2 per cent to $4.94 after sources said that the bank was seeking buyers for CitiFinancial, the largest consumer finance company in the US....
...Mr Banga joined Citi in 1996, and headed up CitiFinancial and the US Consumer Assets Division from 2000 to 2002....
...Mr Pandit is looking to scuttle many businesses near and dear to Mr Weill, including Primerica, an insurance-marketing force, and CitiFinancial, the company’s subprime lending arm, which has more US branches...
...* Local consumer finance: including CitiFinancial and CitiMortgage in the U.S., and consumer finance operations in Western Europe, Japan, India, Mexico, Brazil, Thailand and Hong Kong....
...“We are in discussions with the Financial Services Agency,” Rahul Gupta, chief financial officer of Shinsei Bank, said yesterday....
...Other departures from the consumer businesses have included Guillermo Acedo, head of Latin America, Simon Williams, head of risk, and Dave Lowman, head of CitiFinancial....
...Last June, a box of tapes recording the account information of 3.9m US CitiFinancial customers vanished. Lost? Stolen? No one was sure....
...The bank said the tapes contained information about CitiFinancial branch network customers in the US as well as customers with “closed accounts from CitiFinancial Retail Services”....
...And data can be exposed in more prosaic fashion, as happened in the same month when CitiFinancial, a consumer lending arm of New York’s Citigroup, said confidential information on 3.9m customers had been...
International Edition