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...A Citi spokesperson said: “Enhancing client experience is our number-one focus....
...Other financial services companies are also experimenting with AI tools both internally and for clients....
...For clients who do not opt do so, BlackRock will continue to prioritise financial results, the note said....
...Wholesale areas (est. 60% of core Citi) are positioned for share gains with its ~5K multinational and ~12K corporate clients in 3 LOBs: Services (27%, mostly payments), Markets (25%), and Banking (8%)....
...And obviously, it impacts Virtu, it impacts all of our clients, et cetera. . . . Liquidity is like water, it finds its level. People want market-based solutions....
...Of course, there is customer service and access. But even those face tests....
...How can you optimise for the client and for the firm?”...
...It would continue to use capital and expertise to support clients in their energy transition and managing climate risk....
...“Given that Corinthia has no business relationships or operations of its own, the success of Corinthia’s raid is dependent on its ability to lure . . . clients to follow the departing senior executives,”...
...It was founded in 2015 by Bank America, Citigroup, Jefferies, Morgan Stanley and UBS, and generated close to $100mn in revenue in 2023, through selling to buyside investors and corporate clients....
...Under Buckley, Vanguard’s reach expanded to more than 50mn clients and assets under management rose 80 per cent....
...“Earnings would have collapsed if rates hadn’t gone up and they hadn’t overcharged clients for their cash,” the short seller added....
...The goal is to find ways to expand the range of services clients buy, increasing the crucial dollar-based net retention rate and letting high gross margins turn into profits....
...Fraser is also trying to release Citi from a 2020 consent order with banking regulators that required it to upgrade processes and technology after it mistakenly wired $900mn to creditors of one of its clients...
...The moves come as ESG strategies encounter more attention from regulators, politicians and clients....
...That is why when economic experts change firms the clients generally move with them.”...
...The profit margin of the service sector (which accounts for 20% of revenue) has, in the opinion of our analyst, peaked at 70% as Apple needs to find incremental services with large TAMs, with much of the...
...Any rebound for Citi next year starts in its services unit, offering working capital and payment facilities to its multinational corporate clients....
...among its clients....
...*Ignites is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignites.com....
...“Seventy per cent of [RSM US] revenue comes from globally active clients, so we’re receiving a lot of feedback that we need to be global....
...“The firms have a stance on whether they believe digital asset-focused investments are suitable for their clients and whether allowing their advisers to invest in them on behalf of their clients would expose...
...“Competition is growing in Europe, and the competition in the US is very high to get to clients,” Fuhr said....
...“I meet with policymakers all the time to understand the implications for our clients. That’s my job.”...
...“We need to be agile and efficient in how we serve our clients and how we manage our resources....
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