Citi
Citi rings the changes in structured products
Citi has announced a host of changes to its structured products business, including the appointment of Jean-Luc Bernardi as head of structuring for Europe, the Middle East and Asia (EMEA). Bernardi has developed and led the EMEA equity derivatives…
Exotic derivatives head steps down at Citi
Alberto Cherubini, the former London-based head of exotic equity derivatives trading for Europe at Citi, has taken voluntary redundancy in order to pursue outside interests.
UK CDS spreads up
The cost of credit protection on UK banks increased in early trading this morning, while US financial institutions experienced mixed market sentiment.
CITI cuts 52,000 jobs
Losses and Lawsuits
US government still has room to manoeuvre, analysts say
The US government's move to rescue beleaguered banking giant Citigroup will not impair its ability to bail out other banks.
US government bails out Citigroup
Daily news headlines
$20 billion bail-out for Citi
The US government has given Citigroup a lifeline via a $20 billion direct capital injection and a guarantee for $306 billion in securities.
Eurozone and US bank CDS spreads widen
UK and European financial institutions faced declining market sentiment in early trading today, while the cost of credit protection on US banks continued to rise.
CITI and Wells call legal hiatus over Wachovia
Losses & Lawsuits
UK bank CDS spreads tighten further
The cost of credit protection on UK banks fell further in early trading today following the unveiling of a £50 billion government rescue plan on Wednesday, but US markets remained unstable.
CDS spreads widen despite bailout approval
Credit default swaps (CDSs) on a number of major dealers widened yesterday in spite of the US Senate vote on a revised $700 billion financial rescue plan.
CDS spreads tighten as bailout is revised
The cost of protection on some of the world’s largest financial institutions fell yesterday as the US Senate agreed to vote on a revised version of the $700 billion financial rescue plan.
Citigroup to acquire Wachovia
Citigroup announced today it would buy the banking operations of Charlotte, North Carolina-based bank Wachovia for approximately $2.16 billion in stock.
CDS spreads push out as bailout drags on
The cost of protection on some of the world’s largest dealers surged on Friday as uncertainty grew over the US government’s $700 billion plan to purchase devalued assets from financial institutions.
CDS spreads continue to tighten
Credit default swap (CDS) spreads on financial institutions had tightened further by close of play on September 19, as market confidence continued to rise after large injections of cash from central banks
Citi continues equity derivatives reshuffle
Following the departure of Citi's global head of equity derivatives, Joe Elmlinger, two of the bank's regional heads have also left their posts.
Bank monoline exposures creep up in second quarter
Second-quarter results yielded further markdowns at major dealers due to the increasing counterparty risk posed by monoline insurers.
Elmlinger exits Citi
Joe Elmlinger, New York-based head of global equity derivatives at Citi and a director of the International Swaps and Derivatives Association, has left the firm.
Citi creates retail structured products group
Citi has formed a global retail structured products group and appointed Richard Burns, previously head of equities structured products, to lead it.
Ambac clears deck of $1.4 billion CDO-squared
New York-based bond insurer Ambac has rid its books of exposure to a $1.4 billion collateralised debt obligation-squared (CDO-squared) transaction, by commuting a guarantee written on it for arranger Citi.
ICG chairman Klein quits Citi
Michael Klein, New York-based chairman of Citi’s institutional clients group (ICG), is leaving to pursue other opportunities, according to a statement released by the bank on July 21.
Citi’s trading risk head relocates to Dubai
Farhang Mehregani, currently Citi's London-based head of trading risk for the global equities business, will relocate to Dubai to lead the bank's equities business for central and eastern Europe, the Middle East and Africa.
Merrill’s equities trading head joins Citi
Mike Pringle, Merrill Lynch’s former head of equities trading for Europe, the Middle East and Africa, has joined Citi in the same role.