Hints and tips:
Related Special Reports
...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....
...returns, instead markets may actually lead PMIs....
...Since the MD and VP titles are almost meaningless, you might think that global co-head is also either a vanity title or a piece of marketing. That’s not quite true....
...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....
...For S&P, it is the latest deal to bolster its offering to compete with the likes of Bloomberg in the market for financial data....
...The recovery in global corporate bond and loan markets began after the Federal Reserve signalled it sees a path to cutting interest rates later this year....
...Markets are pricing in 1.3 percentage points of ECB cuts this year....
...It’s not like Citi has destroyed book value or, to us, has a big hole in its balance sheet like during the Global Financial Crisis (GFC)....
...Citigroup has been in a far worse position after divesting Smith Barney near the market bottom....
...Markets are pricing in four or five rate reductions, down from six or seven late last year....
...The timing of the move was as newsworthy as his destination: Citigroup, which last year ranked fifth for investment banking fees, according to data from the London Stock Exchange Group....
...A drop in market volatility at the end of the year also hurt the bank’s traders. Revenue from the sales and trading of bonds, commodities and currencies plunged 25 per cent....
...Global banks’ mainland investment banking units tend to be small, often lossmaking outfits that scarcely make a difference to global balance sheets....
...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 World Bank is, we believe, ultimately keen to see the capital market step in and for market-oriented incentive mechanisms to develop.”...
...Today’s top stories BlackRock is buying Global Infrastructure Partners for $12.5bn in a deal that creates the world’s second-biggest infrastructure firm and shakes up private market investing....
...One way or another Citigroup’s fate, as well as Fraser’s, will be settled over the next 18-24 months....
...As part of her strategy, she has announced plans to pull out of retail banking from 14 overseas markets....
...Most notably, it reveals a paradox now haunting markets....
...Ed Morse, a veteran oil and commodities analyst known for often bearish market outlooks on crude, is leaving his post at Citigroup after 12 years, the bank said in a memo....
A serious bill would restrict the sale of data collected by any social media app, regardless of who owns it
...Several pointed out that it has avoided the whopping big mistakes of rivals such as Wells Fargo and Citigroup (they all noted that the London Whale was not a good look)....
...Last month Citigroup began accepting corporate credit from BlackRock and Schroders as collateral for trades in the repurchase — or repo — market to build their defences against future shocks....
...“The market is bearish,” said Erisa Senerdem, head of biomass pricing at Argus Media....
...From Bloomberg overnight: Citi Is in Talks to Start New Private Credit Strategy by Early 2024 Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series...
International Edition