Citi

The US banks have posted mixed results and while shareholders are losing patience with the bigger laggards at least Goldman seems to have returned to the good old days.

Regulators and shareholders are channelling their concerns over banks’ slow progress in shifting to new and sustainable business models to a new cadre of activist chairmen. Often experienced in the industry, independent of executive management and with strong personalities, these chairmen are increasing the pressure on bank CEOs to abandon unrealistic ambitions and reshape their banks to a new world. Expect more ructions ahead.

FX brokers using Tradable, the open-source forex trading platform, can now trade with Citi through CitiFX TradeStream, which aggregates liquidity from select providers.

Citi's drive to slash costs highlights CEO Corbat's bid to assuage shareholder angst.

In Asia Pacific, Citi’s corporate and investment bank is starting to punch its weight as a broad restructuring, a shift in strategy and much soul-searching begin to bear fruit. Can it establish itself at the top of the investment banking pile?

Citi has made a series of hires in Central and Eastern Europe, Middle East and Africa (CEEMEA) FX trading and sales.

Sometimes, I am pleased to say, I get there before others. Those who are successful normally spot signals before they become trends and navigate accordingly. I can think of many examples: Howard Schultz, the founder of Starbucks, who realized people would pay £2.50 for a half decent cup of coffee; Steve Jobs, who saw that consumers wanted design as well as functionality; and even Barack Obama, who recognized in 2008 that the US public were desperate for change. Of course, Obama now faces a difficult re-election battle as it is not clear his tenure delivered the change that he promised.

PRESS RELEASE

Citi held off the competition for the second year running to top Asiamoney’s 2012 survey of FX trading banks in Asia that provide access and services to the currencies markets.

Citi has been busy rebuilding in recent years. Its latest attempt to put the crisis behind it came last month, when it settled with investors for $590 million over claims it failed to disclose the full extent of its dealings in the sub-prime market.

When EuromoneyFXNews asks one of the world’s largest real-money investors what the three most important characteristics are in an ideal execution counterparty, the fund manager replies: “Pricing, pricing and pricing.”

When EuromoneyFXNews asks one of the world’s largest real-money investors what the three most important characteristics are in an ideal execution counterparty, the fund manager replies: “Pricing, pricing and pricing.”

It may be a poor relation to the Rugby Sevens, but in football-mad Asia the Citi Soccer Sevens, held in Hong Kong, is starting to gain a strong following.

Citi remains the FX bank with the most wind in its sails and is now breathing down the neck of top-placed Deutsche Bank.

Citi remains the FX bank with the most wind in its sails and is now breathing down the neck of top-placed Deutsche Bank.

Anil Prasad, Citi’s global head of FX and local markets, believes he is close to successfully executing his three-year plan: to take his FX division back to the top of the Euromoney FX league table.

Permission after WTO complaint; But why Citi before HSBC?

Citi Treasury Investments follows JPMorgan's lead with ABS fund strategy; other US dollar buyers likely to follow

Citi's latest report on Greek PSI, CDS triggers and haircuts highlights the danger Greece is facing on tipping over into a disorderly default

Citigroup, the fourth-ranked FX bank, has launched Velocity 2.0 – the latest version of its single-dealer FX trading platform – 18 months after introducing its predecessor, Velocity 1.9, as it seeks to grab a larger share of FX trading volumes by offering easier-to-use functions and faster trading speeds.

Citi’s chief economist Willem Buiter and global economist Ebrahim Rahbari warn the markets of financial and trade protectionism and “repression” but emphasise that emerging markets will create buoyancy for the world economy during the sovereign debt crisis.

Citigroup’s securities and banking revenues increase 20% to $6.7 billion in the third quarter, after a credit valuation adjustment (CVA).

Bank’s monopoly under threat after the launch of rival products by Citigroup and Morgan Stanley.

This year’s cash management survey is particularly significant given the growing recognition of the value of cash management services in the wake of the global financial crisis and increasing concerns regarding investment banking.

Morgan Stanley has launched FX Gateway, a new multi-manager platform aimed at providing institutional investors access to select currency managers.

Citigroup has launched a new FX investment platform, CitiFX Access, that will offer a range of opportunities for investors to get exposure to currency markets via currency managers and to generate alpha, the bank said today.

During the 2008 crisis, when Citigroup was accepting its bailout from the US government there were rumours circulating around Latin America that the bank would be forced, for either regulatory or capital-raising reasons, to sell Banamex. Itaú Unibanco was one of the banks most often put forward as lining up to take Citi’s Mexican franchise off its hands.

Citigroup is pinning its global strategy on the emerging markets and holds high hopes for its Latin America business. But, right now, it is nowhere near what it could and should be. Rob Dwyer reports from New York and São Paulo.

Citigroup has topped Asiamoney’s poll of foreign-exchange trading banks in Asia, rising two places to dethrone HSBC as the region’s most popular bank for FX service provision. Asiamoney, a sister publication of EuromoneyFXNews, ranks banks on the basis of client service ratings.

Citigroup has made at least 20 redundancies in its FX division in London and New York due to underperformance, according to people familiar.