Citigroup

Since the end of COVID, each bank has set its own rules for how often employees need to show up at the office. Here's how a dozen lenders are handling the shift.

As she prepares to leave to run a nonprofit after three decades in the industry, Cole said the financial services sector is better for women — but still has a long way to go.

After being undercapitalized for decades, some minority-led banks finally got large capital infusions in the wake of George Floyd's murder. But higher interest rates have made it harder for them to gather the deposits they need to boost lending substantially.

The Ohio Democrat is pressuring the CEOs of JPMorgan Chase, Bank of America, Citigroup and Wells Fargo to proactively provide financial benefits to active-duty service members. Those protections are enshrined in a 2003 law, but many service members do not seek them out.

After months of speculation, the firm confirmed it would "wind down" its municipal underwriting and market-making activities after a "broad-based review" of its muni business, according to a company memo.

Five large U.S. banks are among 50 global financial institutions that climate activists are targeting as they push to end financing of metallurgical coal projects.

The megabank, which is in the midst of a massive restructuring, will probably book "a couple of hundred million dollars" of restructuring charges in the fourth quarter, according to its chief financial officer.

A recent effort by Citigroup to nudge certain customers toward digital-only statements was well intended but too punitive, observers say. The key, they argue, for banks seeking to cut costs or achieve other goals is to offer incentives to those with ingrained habits.

Citigroup didn't admit any wrongdoing in its settlement of allegations by regulators that employees denied credit cards to people in Southern California suspected of being of Armenian origin.

Citigroup is planning to grant the majority of its over 40,000 coders access to generative artificial intelligence as Wall Street continues to embrace the burgeoning technology.

Jane Fraser defended Citigroup's recently announced organizational overhaul and specific performance targets, saying the plan is different from prior restructurings because it's designed to fundamentally change how the company operates.

In addition to her work as global head of Citigroup's Citi Private Bank, Liu also co-leads the bank's Asian affinity network.

More than half of investment firms for the world's superrich seek opportunistic direct deals based on attractive valuations, Citigroup found in a survey of 268 family offices representing $565 billion in net worth.

After an aborted attempt to set up its own bank, Edward Jones is joining forces with Citi to provide savings and checking accounts for clients.

"I got cut," he told The Bond Buyer. "I'm looking for a new job now."

As fintechs struggle, the bank is introducing a line of credit and plans new installment lending products shortly after launching its buy now/pay later product on Amazon Pay.

Amazon Pay — which provides one-click checkout on thousands of e-commerce sites — has added support for Citi Flex Pay, Citigroup's point-of-sale credit card loans, as competition for buy now/pay later customers expands to digital wallets.

Though revenue growth remains a challenge, Citigroup is still committed to its global wealth management expansion plan, CEO Jane Fraser said Friday. Andy Sieg is joining the bank from Merrill Lynch in September as head of global wealth management.

In a sudden shift, Merrill's leader of the past six years is heading back to rival Citi, where he will be head of global wealth and drive its expansion.