Citigroup

  • 22 Jan 2015 at 5:19 PM
  • Banks

Citigroup Is Not Going To Fail Another Stress Test

Couldn't possibly look more excited.

Couldn’t possibly look more excited.

What’s more, Mike Corbat has some other goodies for his shareholders in the works as well. Read more »

lloyd blankfein gary cohnDon’t want to get anyone upset over nothing or be unnecessarily alarmist but there is a slight possibility that shitty earnings may translate to shitty bonuses. Read more »

Get pat on the back from Prince Alwaleed? Check!Earlier today, Citigroup chief Mike Corbat told analysts that the bank has made “significant progress on our top priorities.” Said priorities do not appear to include boosting profits and revenues or trading, but may include paying as much as possible on legal matters. Read more »

citigroupThis year’s payouts leave something to be desired (like 10% of their money). Read more »

  • 18 Dec 2014 at 9:30 AM

Bonus Watch ’14: Citigroup

Citigroup Everyone at the House of Corbat is being asked to make sacrifices for the team this year, though some more than others. Read more »

  • 16 Dec 2014 at 10:00 AM
  • Banks

Layoffs Watch ’14: Citi Mailroom

Lost in the mail.Given all of the shit that Mike Corbat’s had to deal with this year from all corners—Mexico, Argentina, subprime lending, Jed Rakoff, paying lawyers—he really doesn’t need to be cutting $3 million checks because someone forgot to throw a few hundred thousand prospectus in the mail. Read more »

toysrusThe investment banks promised favorable research to Toys “R” Us Inc. and its private-equity owners to win roles in its initial public offering, the Financial Industry Regulatory Authority said today in a statement. The regulator fined the firms a total of $43.5 million, faulting them for “implicitly or explicitly” making promises that their analysts would give positive coverage. Six of the 10 firms didn’t have adequate supervisory procedures to prevent the practice…In May 2010, Citigroup’s investment bankers hosted a chaperoned call with the firm’s research analyst, who then e-mailed a supervisor. “I so want the bank to get this deal!” the analyst said in the e-mail, according to Finra. Days later, bankers told the retailer that they could “count on Citi’s firm-wide support and advocacy for the Toys story and valuation.” Other firms contacted Toys “R” Us after making their pitches, expressing enthusiasm about the firm’s prospects and providing assurances that the views of bankers and analysts were aligned, Finra said. Toys “R” Us and investors, including KKR & Co., withdrew the IPO filing last year. [Bloomberg]

Nothing is fucked, Dude.Mike Corbat is going to go ahead and just send every one of the 54 billion nickels Citi’s going to make this quarter to the bank’s lawyers, the latest last big legal charge it will have to take, he swears. Read more »