Citi Property Investors, a unit of Citigroup Inc.'s Citi Alternative Investments, has hired Markus Hofmann to manage its newly established German office.
Mr. Hofmann, who was most recently with Carlyle Group, will be a director for Citi's newly opened office in Germany, overseeing Citi Property's core plus and opportunity strategies there and elsewhere in Central Europe.
Citi announced the hiring Monday.
Investors seemed to agree with CEO Barry Sloane's argument that strong earnings will outweigh a jump in nonaccrual loans.
While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. "Unequivocally," said U.S. CEO Christiana Riley, "the opportunity … is so clear."
Federal Reserve Chair Jerome Powell declined to say whether he would depart the central bank after his chairmanship ends next year, as is typical with Fed chairs who are not reappointed. He also pushed back on criticism from one potential replacement.
The payment company joins other firms that are expanding apps in Europe, where Apple has agreed to ease access to supporting technology. Plus, the U.K. plans a new crypto crackdown.
The Treasury secretary tells the House Financial Services Committee that he is vetting candidates to fill the role and says acting Chair Travis Hill has been effective.
The credit union partnered with Bloom Credit to offer members a new way to build their credit score by sharing rent and utility payment data.
