Citi
Credit crisis hits Citigroup harder than expected
US banking giant Citigroup has suffered worse losses from the recent credit crisis than predicted. Chief executive Charles Prince admitted the poor performance was "frankly surprising".
Credit Suisse and Citi expect profit losses for Q3
Credit Suisse Group is the latest bank to warn of a third-quarter profit loss. It reported its investment banking and asset management divisions’ profits have been adversely affected by recent market events.
The online frontier
2007 has been a year of online activism and banks have paid the price. Is there an emerging reputational risk threat posed by bloggers and discussion forums? Peter Madigan investigates
Lloyds TSB makes more derivatives hires
Lloyds TSB has added four senior staff to its London derivatives team.
Banks lean on support loans
Several large investment banks have taken advantage of easier lending terms from central banks, aimed at increasing liquidity in the wake of the subprime crisis.
Citi and FTSE launch first Vietnam equity index
US bank Citi and index provider FTSE Group today launched the FTSE Vietnam Accessible Index (VAI), the first Vietnam equity index for foreign institutional investors.
Citi's risk management goup to be trimmed
Some risk management roles will be lost as part of Citi’s streamlining announced this week.
Deutsche Bank wins corporate derivatives rankings
Deutsche Bank has won this year’s Risk corporate end-user rankings, achieving the most votes overall among participating corporate clients globally. Citi and Barclays Capital came second and third, at a time of record merger and acquisition (M&A)…
Deutsche Bank wins corporate derivatives rankings
Deutsche Bank has won this year’s Risk corporate end-user rankings, achieving the most votes overall among participating corporate clients globally. Citi and Barclays Capital came second and third, at a time of record merger and acquisition (M&A)…
Citi and Fortis launch managed equity programme
Citi has launched a managed equity programme in partnership with Fortis Investments, the Brussels-based investment manager. Called Botticelli, the programme comprises a variety of equity tranche-linked notes, each offering different risk-return…
Citigroup reshuffles fixed-income group
Citigroup has reshuffled senior management in its fixed-income group, moving many outside the US in a recognition that future growth will depend on foreign markets.
Lehman hires Shambayati as European emerging markets head
Soroosh Shambayati has been appointed as European head of fixed income for emerging markets by Lehman Brothers.
All in the mind
The number of op risk patent applications filed in the US has soared. Duncan Wood investigates the efforts being made to protect intellectual property
Debating RCSAs
Four of the industry's top op risk executives debated risk control self-assessments at a recent briefing in London, moderated by Ellen Davis and sponsored by software vendor Reveleus
Citigroup launches Islamic finance products in Singapore
Citigroup in Singapore has launched commodity murabaha investments denominated in the US dollar, euro, pound sterling and Singapore dollar, the first such products launched in the city state since the Monetary Authority of Singapore approved the sale of…
Hidden dangers
Do op risk managers still care about the impact of reputational risk? Possibly not, reports Peter Madigan
Citigroup adds metals trader in Asia
US bank Citigroup has continued to expand its Asia-Pacific commodities team with the hire of Russell Wheeler, who joins the metals trading team in Singapore, with joint responsibility for risk management in Asia.
Sharia forex hedges take off
The market for sharia-compliant foreign exchange hedges continues to grow, with Citigroup structuring the first cross-border sharia-compliant cross-currency profit rate swap worth $230 million.
Nine banks to build Mifid utility
Nine global securities firms have gone public with plans to create a trade data and market data dissemination platform, to take advantage of the EU’s Markets in Financial Instruments Directive (Mifid) reforms.
Citi launches alternative investment service in Asia
Citigroup has extended its alternative investment service so that hedge funds in the Asia-Pacific region can now outsource their administration requirements.
Citigroup creates Asia-Pacific COO position
Shengman Zhang, vice-chairman of the global banking division of Citigroup Corporate and Investment Banking (CIB) in New York, will start in October as chief operating officer for Asia-Pacific at CIB, a new position based in Hong Kong.
Citi rebuilds Asia commodities team
Citigroup has made several hires to its commodities team in Singapore. The US bank has been looking to build up the division since the departure to Merrill Lynch in April 2005 of commodities head Mark Long and most of his team.
Citigroup snares Calpine CFO to head commodity capital markets
Citigroup has appointed Rodney Malcolm as managing director and global head of commodity capital markets.
Citigroup sets up inflation trading team
Citigroup has hired five senior bankers to form a European inflation products team. The team, which is within the European rates trading arm of the bank, will be headed by Sebastien Goldenberg, managing director and head of inflation trading.