Citi
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.
Citi and FTSE launch first Vietnam equity index
US bank Citi and index provider FTSE Group today launched the FTSE Vietnam Accessible Index (VAI), the first Vietnam equity index for foreign institutional investors.
Citi's risk management goup to be trimmed
Some risk management roles will be lost as part of Citi’s streamlining announced this week.
Deutsche Bank wins corporate derivatives rankings
Deutsche Bank has won this year’s Risk corporate end-user rankings, achieving the most votes overall among participating corporate clients globally. Citi and Barclays Capital came second and third, at a time of record merger and acquisition (M&A)…
Deutsche Bank wins corporate derivatives rankings
Deutsche Bank has won this year’s Risk corporate end-user rankings, achieving the most votes overall among participating corporate clients globally. Citi and Barclays Capital came second and third, at a time of record merger and acquisition (M&A)…
Citi and Fortis launch managed equity programme
Citi has launched a managed equity programme in partnership with Fortis Investments, the Brussels-based investment manager. Called Botticelli, the programme comprises a variety of equity tranche-linked notes, each offering different risk-return…
Citigroup reshuffles fixed-income group
Citigroup has reshuffled senior management in its fixed-income group, moving many outside the US in a recognition that future growth will depend on foreign markets.
Lehman hires Shambayati as European emerging markets head
Soroosh Shambayati has been appointed as European head of fixed income for emerging markets by Lehman Brothers.
All in the mind
The number of op risk patent applications filed in the US has soared. Duncan Wood investigates the efforts being made to protect intellectual property