Citi
Evans joins Citi as subprime losses mount
Citi yesterday announced that it had hired Richard Evans as chief risk officer for its institutional clients group.
Five banks file counterclaim over Clear Channel LBO
A legal spat over the proposed leveraged buyout of Texas-based media company Clear Channel intensified on April 4, as five banks filed a counterclaim in New York against the company and its private equity suitors.
Citi appoints Dial to head consumer banking
As part of its ongoing corporate restructuring, Citi has appointed Teresa Dial as the chief executive officer of consumer banking in North America. Reporting directly to Vikram Pandit, the group’s chief executive officer, she will also assume the title…
Huey Evans joins Barclays
Gay Huey Evans has been appointed Barclays’ new vice-chairman of investment banking and investment management (IBIM). She takes up this newly created role in mid-April, and will focus on developing and managing relationships with sovereign funds.
Havens and Klein named institutional client heads at Citi
Michael Klein and John Havens jointly replaced Citi chief executive Vikram Pandit as chairman and chief executive of the bank's institutional clients group in New York on March 17.
Citigroup replaces chief risk officer after just three months
Citigroup has announced the appointment of Brian Leach as the firm's new chief risk officer (CRO), just three months after the bank appointed Citi veteran Jorge Bermudez to the same position.
CDOs of ABSs "in deep trouble"
Ninety-eight collateralised debt obligations of asset-backed securities (CDOs of ABSs) rated by New York-based Standard and Poor’s (S&P) have reached so-called events of default (EODs).
Société Générale gets a cash infusion
Société Générale (SG) is the latest of several banks to raise money through the capital markets after suffering multibillion-dollar losses. Unlike several Wall Street banks issuing mandatory convertibles, the French bank will sell stock and give current…
Citigroup downgraded after monumental losses
Citigroup saw its credit ratings docked today after announcing fourth-quarter losses of $9.83 billion, driven by subprime writedowns totalling $17.4 billion.
Q4 writedown estimates raised for Citi, Merrill and JP Morgan
Citi, Merrill Lynch and JP Morgan could see writedowns totalling $33.6 billion relating to collateralised debt obligations (CDOs) over the fourth quarter, according to a report by Goldman Sachs on American firms, published on December 26.
Derivatives Research House of the Year - Citi
Risk Awards 2008
Citi bails out struggling SIVs
Citigroup has bailed out seven of its own structured investment vehicles (SIVs), taking their $49 billion in non-cash assets onto its own balance sheet, as they continue to reduce in size.
Citi names Vikram Pandit as CEO
Citi has appointed Vikram Pandit as a replacement for its previous chief executive officer, Charles Prince, who stepped down in November after the bank faced writedowns of billions of dollars on its mortgage-backed securities business.
Citi hires head of emissions markets
Citi has appointed Garth Edward as its new head of emissions markets, based in London. He will cover the bank’s global efforts in carbon trading and Kyoto emissions credits.
CDO shakeout puts spotlight on managers
Unsettled structured credit markets are causing investors to become more scrupulous in their collateralised debt obligation (CDO) manager choices, according to market participants.
Citigroup launches risk reshuffle after mortgage meltdown
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Citigroup names new chief risk officer
Citigroup has appointed Jorge Bermudez as chief risk officer, and is tightening up risk management after suffering major losses from the subprime crisis.
Citi names new subprime head
Citi has set up a new group dedicated to handling $43 billion of its exposure to US subprime mortgages.
Change at top as Citi sees writedowns
Citi yesterday confirmed the retirement of Charles Prince, the US bank's chairman and chief executive officer.
$30bn capital hole hits Citi stock price as credit chiefs fired
Shares in Citi have plunged after analysts announced a stock downgrade that suggests assets may need to be sold and dividends cut to make up for a $30 billion hole in the bank’s short-term capitalisation.
Master conduit trio joined by Wachovia
Wachovia has joined Bank of America, Citi and JP Morgan in a plan aimed at restoring calm to the troubled structured investment vehicle (SIV) sector.