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...Documenting and sharing client feedback is one way to ensure we’re delivering for them, and is a standard practice within Citi and across the industry.”...
...his re-election was “in the best interest of all shareholders”....
...Examples include Malvolio in Twelfth Night, Batman in The Lego Movie, most Terry Pratchett novels, Taskmaster, and sellside coverage of crypto. The quant team at Citigroup has a take on the trope....
...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...
...Raghavan joined JPMorgan in 2000 and previously held senior roles in the lender’s debt and equity capital markets businesses, and also ran investment banking in Europe, Middle East and Africa....
...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...
...[If you’ve somehow wandered this far into an article about PMIs and don’t know what PMIs are, they’re measures of business activity based on firms’ responses to question about things like orders received...
...“Managers have not invested as much capital as they expected and . . . want to make sure they participate in the next opportunity. And they’re willing to be aggressive to make sure they do.”...
...And it looks like we’re getting some of that,” said Scott Siefers, a banking analyst at Piper Sandler....
...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 been in a far worse position after divesting Smith Barney near the market bottom....
...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....
...At JPMorgan Chase, investment banking head Vis Raghavan regularly told recruits, “You’re either reading the news or making the news.”...
...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...
...Shares in Citigroup rose 1 per cent in New York. Citi’s quarterly results were the worst since the end of 2009, when it was still emerging from the financial crisis....
...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....
...In the US, merchants paid a record $172bn in processing fees to accept $11.2tn in card payments last year, according to the Nilson Report....
...“We continue to believe that we’re gonna see some weakness in the dollar this year, but we believe it’s now basically a story for the second half of the year,” Vamvakidis said....
...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....
...That’s a pretty good business to be in. You can make a good living from doing that if you’re a bank....
...“We see the consumer activity indicating that they’re still in the game,” Borthwick said. “They’re still spending money.”...
...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....
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