News Topic: Citigroup

Money laundering in Latin America is said to be worsening and a corruption probe in Brazil adds to the worries, but Latin American banks are fighting hard to preserve business with U.S. banks. ... Read full article

Deutsche Bank hired Citigroup Treasurer James von Moltke to replace Marcus Schenck as chief financial officer, completing a management shake-up that's been key to the latest turnaround plan. ... Read full article

All six big card issuers reported higher chargeoffs in their credit card businesses, a sign that the post-crisis era of exceptionally strong credit performance has run its course. ... Read full article

Carol Hayles’ departure from CIT leaves us with one less female CEO-CFO team in banking; even Supreme Court justices get manterrupted; a Google doodle celebrates a microlender; and Sen. Elizabeth Warren strikes a pose. ... Read full article

Student loans are showing signs of growing too fast, perhaps the only market flashing a warning even as the economic recovery grows older, Citigroup Chief Financial Officer John Gerspach said. ... Read full article

B of A, JPMorgan and Citi beat trading estimates unlike Goldman Sachs, but the investment bank still doubled its quarterly profits. ... Read full article

At last week's conference in London, host Brett King took time away from speaking and judging startup pitches to talk to some of the main presenters, including Ruth Wandhöfer, Citi's global head of regulatory and market strategy. ... Read full article

Earnings season kicked off with some banks capitalizing better than others on higher rates and still-low deposit costs. Banks will have to keep working on that balance as they contend with rising credit card losses, slower commercial lending and other ... Read full article

Investors concerned about the impact on banking of climate change, the pay gap and ethics matters are pushing back against a coalition of the heads of the biggest U.S. banks and other public companies that wants to limit small investors’ access to proxy ... Read full article

Financial institutions of all sizes are overhauling benefits policies and promoting work-life balance to better compete for millennial recruits with the hipper tech sector. The big changes include longer periods of paid time off for new parents. ... Read full article

Citigroup plans to close three of its four London branches as the company seeks to cut costs and focus on digital services. ... Read full article

Community banks, which could be the hardest hit if economic tensions between the U.S. and Mexico escalate into a tariff battle, are urging policymakers to refrain from rash action, and big banks are already trimming exposures. ... Read full article

Amer Sajed, a 56-year-old Pakistan-born immigrant to the U.S., will step down from his role leading the bank’s credit card business in July after being spurred into activism by President Trump's stances on social and other issues. ... Read full article

Cash that flowed from Russia through a vast money-laundering network sometimes ended up passing through the world's largest banks, including Citigroup, Bank of America, and HSBC, the Guardian reported, citing a cache of financial records it reviewed. ... Read full article

Citigroup CEO Michael Corbat stuck up for his embattled retail unit in Mexico, downplaying concerns that protectionist White House policies may harm the subsidiary or the overall company's global strategy. ... Read full article

Yolande Piazza has been serving in the role on an interim basis since Heather Cox left for USAA. ... Read full article

Lost in the battle between banks and retailers — which is being fought with renewed vigor in the early days of the Trump administration — is any consideration of how caps on interchange fees have affected consumer spending patterns. ... Read full article

The new group, which will work alongside the bank’s lobbyists and focus on policy at U.S. and overseas regulators, is being run by Kevin Bailey, an alum of the OCC and GE Capital. ... Read full article