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However, it beat analysts' estimates thanks to a big reserve release, a smaller-than-expected rise in expenses and other factors.5h ago
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The new global wealth division, which is being formed by combining the firm’s private bank with a unit that serves substantially less wealthy households, will be led by Citi veteran Jim O’Donnell.January 14
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In a memo to staff on Tuesday, Citigroup announced a new head of U.S. consumer banking and said that two of its other high-ranking bankers would essentially switch roles.January 12
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The actions follow earlier announcements from Marriott International, Blue Cross Blue Shield and Commerce Bancshares, which said they are suspending financial support for all lawmakers who voted against certifying Joe Biden's election as president.January 10
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Citigroup promoted 70 women in its latest class of managing directors, the most ever but still less than a third of the total.December 21
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Win or lose, Citibank’s battle to recover half a billion dollars from an accidental payment is sure to prompt a review of internal controls in the industry and could have a lasting impact on the more than $1 trillion syndicated loan market.December 21
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Citigroup found that the rapid enactment of a carbon tax would likely lead to a significant increase in losses on loans the bank has made to certain oil and gas companies.December 18
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Citigroup will soon offer workers the ability to take a 12-week sabbatical as part of a bevy of new employee perks in the wake of the coronavirus pandemic.December 16
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Citigroup is following up on a September promise to help these minority depository institutions finance as much as $50 million in affordable multifamily rental housing.December 10
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The company’s noninterest expenses are expected to rise more than $500 million next year, largely because of a revamp of risk management and internal controls mandated by regulators.December 9
