The roughly $2 million investment comes as banks keep joining (and in some cases, leaving) various distributed-ledger projects as they try to pick the winners in a young field.
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.
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.
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.
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.
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.
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.
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 issues.
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 ballots.
