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...Douglas Fraser, who was president of the United Auto Workers, joined the board of Chrysler in 1980 after the UAW granted the company $460mn in concessions to help the financially floundering carmaker....
...The move is an edict from Andy Sieg, who runs Citi’s wealth management division and joined the company last year from Bank of America....
...The newly separated units would be run by their current heads, who would report directly to Fraser, handing her greater day-to-day control....
...Smith had “a visceral reaction” to the possibility of working with Frasers and subsequently ensured the relationship was terminated, according to Frasers’ written submissions....
...The sportswear billionaire has struck an unpaid consultancy agreement with the company after his retail empire Frasers Group built an 8.9 per cent stake in the business....
...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 latter was ultimately settled for an “immaterial amount”, according to the company’s 2020 annual report....
...“Surely the board has to be persuaded that it’s in the company’s interests?” she asked....
...It posted a pre-tax loss of £70mn on sales of £380mn in the year to January 31 2023, according to its most recent filings at Companies House....
...Sports Direct founder Mike Ashley has entered into a consultancy agreement with hobby and toy producer Hornby Hobbies, after the businessman’s Frasers Group increased its stake in the company....
...He also said it was a “pretty big red flag” that some other Frasers’ advisers had stopped working for the company, and was concerned that Ashley had a reputation for being litigious, which would be a “huge...
...Why do companies buy legacy brands? It might be tempting to make a quick buck by plastering a well-known name over myriad items, though that would cheapen it....
...Fraser said Raghavan would start at Citi in the summer....
...Grocery inflation eased to 4.5 per cent in the four weeks to March 17, down from 5.3 per cent the previous month and the lowest since February 2022, according to research company Kantar....
...In today’s newsletter: Jane Fraser asks staff to lean in The royal rug maker under scrutiny The Nomura banker stuck in China Last call aboard the Jane Fraser train Speaking to the bank’s 240,000 employees...
...Her contacts with the head of Porsche helped land Citi a top slot on the sports car company’s IPO, one of the biggest deals of last year....
...It’s true that Fraser really does seem to be willing to make some dramatic moves....
...Frasers upped its holding in Boohoo to one-tenth on Friday, sending shares in the laggard sharply higher. Frasers is now run by Ashley’s son-in-law Michael Murray....
...In 2019, ABA worked with 21 core providers — those companies responsible for the technology platforms that support the banks’ daily operations — to bolster its Bank On movement....
...Mercer’s Sustainable Plus fund was marketed as excluding fossil fuel companies, but nonetheless invested in carbon-intensive stocks including Glencore and BHP according to the regulator, as well as gambling...
...Frasers alleges that the move was an attempt by certain individuals at the bank to harm the company, and that the decision to impose the margin call was “arbitrary, capricious, in breach of good faith, far...
...Frasers was informed on September 18 that Mash Holdings, a company through which Ashley holds shares in the company, had sold puts over 400,000 shares three days earlier....
...Fraser called the restructuring the “most consequential changes” she has made to the management of the bank....
...Recruiting Raghavan brings an end to a high-profile HR gambit by Citi’s chief executive Jane Fraser, who left the banking job vacant when she unveiled the company’s new five-division structure in September...
...Annual grocery inflation eased to 4.5 per cent in the four weeks to March 17, down from 5.3 per cent in the previous month, according to the research company Kantar....
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