• 24 Apr 2013 at 6:52 PM

Citigroup Lookin’ Pretty Good To Citigroup Chairman

Mr. O’Neill, meanwhile, told shareholders that the main work in shrinking Citi has been done. “Look at the performance of Citicorp: It’s quite respectable,” he said about the division that is Citi’s core lending and capital markets business. “We have the makings here of a very attractive company,” he said. [WSJ]

The line forms to the left! Read more »

The Federal Reserve has ordered Citigroup Inc to better police for the risk of money laundering, part of a broad U.S. regulatory crackdown on the potential for illicit money flows. The Fed told Citigroup’s board to submit a plan within 60 days to improve its oversight of companywide anti-money laundering compliance, according to a consent order dated March 21, but only made public on Tuesday. The order expands upon similar orders directed at several Citigroup units in 2012. The plan should include funding personnel and resources based on the risks of different units – policies that instill a “proactive approach” to identifying and managing money-laundering risks – and measures to ensure employees adhere to those compliance policies, the Fed said. [Reuters]

  • 05 Mar 2013 at 1:41 PM

Mike Corbat Has A Dream

Mike Corbat, the new chief executive officer of Citigroup, said the company’s profit goal for 2015 is earn at least a 10 percent return on the company’s tangible common equity. The target was posted on the company’s website on Tuesday in slides Corbat planned to use a few minutes later in a speech at an investor conference. The slides also showed a goal of earning a return on assets of 0.9 percent to 1.1 percent. In 2012, the company earned 7.9 percent on tangible common equity and 0.91 percent on assets, after adjustments for items. [Reuters]

Many of which involved firing people. He did other stuff, too, but the firings stood out on compensation day. Read more »

  • 21 Feb 2013 at 1:37 PM

Mike Corbat Down One Golden Rolodex

It finally dawned on Chat Leat: Why put up with the stink at Citigroup when you’ve got such a fabulous social life? Read more »

Did you know the name of the guy who discovered the logarithm? Someone at Citigroup did, and he or she decided to rename its soon-to-be-given-away hedge fund unit after him. Read more »

  • 28 Jan 2013 at 1:12 PM

This Is A Thing That’s Happening At Citigroup

For the next three weeks, the bank’s world-wide head of foreign-exchange sales is invoking his alter ego, “Bernieman.” The 53-year-old Mr. Sinniah’s mission: elevate Citigroup to the top of Euromoney magazine’s hallowed annual ranking of foreign-exchange firms…The last time Citigroup captured the top spot was in 2002. The New York bank then languished but has been inching its way back up the list, finishing second in 2012. Triumph this year is a job for Bernieman. Vowing to end Citigroup’s losing streak, Mr. Sinniah put his muscles where his mouth is. Around the world, Citigroup has plastered offices with a cartoon sendup of Mr. Sinniah clad in yellow tights, red briefs and a red cape, with a B on his chest and left index finger pointing toward the sky. “THERE IS NO TRY. DO!” the posters say. “GET TO NUMBER ONE.” “DO!” means persuading clients to support Citigroup in the Euromoney survey. “Every vote counts!” one poster adds. On Citigroup trading floors, traders, salespeople and analysts have been divided into teams to get out the vote. Instead of their typical uniform of button-down shirts and chinos, employees are wearing T-shirts emblazoned with Formula One racing-team names and Bernieman’s motto. [WSJ]