Citi
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.
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.