Citibank cut out
The suspension of Citibank’s private banking business by the Financial Services Agency in September has brought to light a catalogue of internal control and governance failures within the bank’s Japanese operations. And with Citi now cut out of the market, competitors are lining up to take its place.
The risks posed by mis-selling have been brought to centre stage following the closure of Citibank’s private banking business in Japan. In September, the group was ordered to suspend its private banking operations after the country’s regulator, the Financial Services Agency (FSA), uncovered a litany of regulatory abuses, including the mis-selling of structured products to high-net-worth
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on People
Osttra hires four from LSEG as post-trade battle heats up
SwapAgent head Nathan Ondyak returns to Osttra following KKR acquisition
JP Morgan’s former head of FXO trading leaves Balyasny
Ankur Dhingra spent almost three years as a macro portfolio manager at the multi-strat hedge fund
EBRD treasurer Alex van Nederveen retires
Felix Green set to replace 30-year bank veteran later this month
Morgan Stanley makes cuts to real money FX coverage
Departures from London-based team came as bank was reportedly shedding 2,500 jobs
People: JP Morgan’s data and AI move, Eurex clearing chief, and more
Latest job changes across the industry
JP Morgan AI research founder and head departs
Manuela Veloso leaves as bank announces greater spend on tech and AI
SocGen’s head of US Treasury clearing preparations to depart
Bank’s head of product for FX and fixed income prime brokerage for the Americas set to leave later this month
People: You’re fired! US agency rejig, new CROs at ING, StanChart, and more
Latest job changes across the industry
