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
Nomura shuffles risk methodology team
Epperlein takes advisory role six months after Japanese bank’s FRTB IMA go-live
Andy Ross leaves StanChart
CurveGlobal veteran confirms his departure as bank’s global head of prime brokerage
People moves: BofA’s new markets heads, Barclays takes SG’s Mastrangelo, and more
Latest job changes across the industry
People: BNY taps Nasdaq CRO for enterprise risk role, Hoornweg steers StanChart CIB solo, and more
Latest job changes across the industry
People: Nomura’s rates rebuild continues, DB USA’s new CEO, and more
Latest job changes across the industry
JP Morgan’s credit structuring head departs
Denis Gardrat will head infrastructure investor Rivage Investment’s UK unit
UBS sterling rates head joins RBC Capital Markets
Ian Hale joins the Canadian bank as head of European inflation trading
People: Rates revamp at Nomura, JP’s structuring shuffle
Latest job changes across the industry
