Citigroup Treasurer Michael Verdeschi said on Friday that he doesn't think the U.S. Federal Reserve is ready to “seriously consider” negative rates as an option to further help the economy bounce back from the fallout it is experiencing due to the ongoing global pandemic.
Citigroup will manage newly sold securities in the U.S. for Chinese lender Lufax, which made its American exchange debut by raising $2.36 billion, the New York-based bank said on Monday.
JPMorgan may face a monetary penalty from U.S. regulators for faults in its internal rules and procedures, the bank said on Monday in a regulatory filing, one month after it paid a record settlement in a spoofing probe.
Major global banks are telling their staff based in the U.K. to go back to working from home, following the government’s new implementation of a several weeks-long lockdown measure, which is set to start on Thursday.
The ability of the largest U.S. banks to remain solvent during an extended recession hinges on continued government support because they are in “a significantly shakier position” than they appear, highlighting the need for an immediate halt in dividend payments, according to an advocacy group.
Several of the world's largest banks including Goldman Sachs, Bank of America and JPMorgan will have to face a lawsuits claiming they colluded for nearly a decade to manipulate pricing of certain municipal debt issuances.
Citigroup's veteran chief risk officer is departing as the bank faces regulatory and investor scrutiny over deficiencies in risk management, and the bank also revealed Monday that it named an insider to succeed Jane Fraser as CEO of global consumer banking when she becomes company CEO in February.
Citigroup on Friday revealed what it described as the largest-ever private-sector social bond, raising $2.5 billion for affordable housing, following a pandemic-driven string of similar issuances.
Citibank London, the U.K. branch of U.S.-based Citibank, will be buying a portfolio of performing buy-to-let mortgage accounts from Ireland-based Permanent TSB Group’s lending arm for around EUR 1.2 billion ($1.42 billion).
Chinese fintech Ant Group is seeking to raise more than $34 billion from its upcoming blockbuster initial public offering, as the company disclosed pricing terms Monday for its two listings in Hong Kong and Shanghai that would make its IPO the largest ever.
Root upped the size of its initial public offering on Monday, increasing the total amount of money that the U.S. auto coverage insurtech is looking to raise by about $10 million.
Bank of America said Monday that it took equity stakes in three more minority-owned and community development banks, advancing a promise by the second-largest bank in the U.S. to extend $1 billion to financial institutions, businesses and initiatives supporting Americans who are disproportionately affected by the COVID-19 pandemic.
Chinese online lending and wealth management firm Lufax Holding, which is backed by China's largest insurer Ping An Insurance Group, is seeking to raise up to $2.36 billion from an initial public offering in the U.S.
Peter Charrington, Citigroup’s global head of private banking and a 26-year veteran of the New York-based bank, is set to depart in order to spend more time with his family and explore new opportunities, according to a company memo seen by Fastinform.
Wirecard North America, formerly a subsidiary of beleaguered German payments company Wirecard, has been sold to holding company Syncapay and will combine with daVinci Payments, the three companies said Thursday.
Wells Fargo altered its compensation structure for 2021, with the bank removing retirement matching funds for employees making over $250,000 and raising pay and benefits for those at lower levels, spokesperson Beth Richek told Fastinform on Thursday.
Citigroup is planning to create an investment banking unit in China as the country claims an increasingly large share of the global equities market and is buoyed by a surge of initial public offerings, Bloomberg reported Thursday.
U.S. digital auto insurer Root is looking to raise up to $604 million in an upcoming initial public offering, marking the latest in a wave of insurtechs angling to tap the public equity markets.
Two senior executives at Morgan Stanley’s commodities business are leaving the New York-based investment bank after violating its rules on the use of electronic communication tools such as the WhatsApp messaging app, Bloomberg reported Tuesday.
Citigroup management failed for years to disclose problems with its internal controls, damaging the bank’s finances and reputation while causing its shares to lose significant value, shareholders alleged in a lawsuit.