Hints and tips:
...Citigroup, for example, got out of subprime lending three years ago when it sold CitiFinancial to Springleaf, owned by Fortress....
...CitiFinancial Canada has more than a quarter of a million active customers, 1,300 employees and 217 branches. It specialises in lending to consumers with poor credit scores....
...Into Citi Holdings went a diverse range of assets, including CitiFinancial, a consumer finance company with 3,000 branches catering to US customers but these were distinct from the urban, international customers...
...The unit, formerly known as CitiFinancial, was the cornerstone on which Sandy Weill, former Citi chairman, built the world’s largest financial-services company....
...Citigroup is seeking buyers for CitiFinancial, the largest consumer finance company in the US, sources have told the FT....
...The sale would mark yet another departure from the strategy embraced by Mr Weill, who built the former Commercial Credit into the largest US consumer finance company....
...Citigroup is seeking buyers for CitiFinancial, the largest US consumer finance company, in a deal that could raise hundreds of millions of dollars and help the bank break with its troubled past, reports...
...The unit – named until recently CitiFinancial – was among those targeted for disposal in the group’s post-financial crisis strategy....
...Citigroup is seeking buyers for CitiFinancial, the largest consumer finance company in the US, in a deal that could raise hundreds of millions of dollars and mark a milestone in the bank’s efforts to break...
...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....
...Some buyout funds have told Citi they would only bid for CitiFinancial if its parent company provided loans to bridge that funding gap - a move that would make a sale less lucrative for Citi....
...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....
...In some cases, these units were never completely integrated into the company after they were purchased....
...Putting out an “everything must go” sign is a poor negotiating tactic even were the market for, say, a subprime lending arm (CitiFinancial) not appalling....
...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....
...Citifinancial, part of Citigroup, closed 80 per cent of its branches. Credia had previously announced plans to close 178 branches and trim its workforce by 30 per cent....
...Citifinancial, GE Consumer Finance and major domestic money-lenders have all unveiled substantial restructuring plans as a result....
...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....
...Both Citifinancial and GE Consumer Finance have unveiled restructuring plans for their consumer lending operations in Japan....
...It inherited three fully-fledged Japanese consumer finance companies from Associates....
...Last June, a box of tapes recording the account information of 3.9m US CitiFinancial customers vanished. Lost? Stolen? No one was sure....
...However, the tapes did not contain any information from CitiFinancial Auto, CitiFinancial Mortgage or any other Citigroup business....
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