Citi

The shift in the balance of power in Citi’s debt group duplicates a trend seen in some other US investment banks.

I was flattered when a chief executive emailed: “Abigail, are you the Euromoney honey?” but in business school they teach that there is no second mover advantage. The real money honey is Maria Bartiromo, the Sophia Loren look-alike anchor of the Closing bell programme on CNBC.

Summary table of top banks, with quick links to more related content on euromoney.com

It could be that the bank is simply too large, and only disposals can change the culture. But the recent changes are, to date at least, a missed opportunity.

Unsuspecting staff at the Citigroup Centre in London passing by the fixed-income trading floor were shocked to see their head of high-yield sales and trading, Mickey Brennan, and their head of emerging markets sales, Marc Pagano, getting their heads shaved while fellow staff members cheered on.

We can work it out.

Investor enthusiasm towards China's stock market is likely to continue into next year, with banks and telecommunication companies favored amid tax and industry reform, Citigroup said.

Things change, as baseball legend and sometime New York Mets player-coach Yogi Berra had his own inimitable way of saying. Some people prefer the future the way “it used to be” – and right now it’s the renaming of the Mets stadium that is upsetting fans.

The US bank has finally got what it wanted – but it remains to be seen what happens now with GDB.

Things change, as baseball legend and sometime New York Mets player-coach Yogi Berra had his own inimitable way of saying. Some people prefer the future the way “it used to be” – and right now it’s the renaming of the Mets stadium that is upsetting fans.

If the reorganization is properly managed, they will be able finally to catch up in areas such as commodities.

Citigroup is paying $3.1 billion for a 20% stake in Akbank, the country’s largest privately owned bank, just months after losing the battle to buy Finansbank. National Bank of Greece was the victor in that sale.

The US institution has taken a lead in adapting to client demand for new services.

The US institution has an unrivalled combined strength in retail and investment banking.

Despite growing competition, Citigroup remains at the forefront of cash management, with impressive take-up of its TreasuryVision programme.

Citigroup’s global head of fixed-income capital markets, Marwan Marshi, left the bank last month to pursue other interests. Marshi, who worked at Citigroup for 20 years, was previously co-head of credit markets alongside Chad Leat until last year when Leat was promoted and gained control of credit trading as well as credit origination and products. Citigroup is not appointing a replacement in Marshi’s role, which had become increasingly redundant. The regional heads of origination that reported to Marshi now simply report to Leat.

Following a two-year hiatus, Belgium settles trade with Citi.

While rivals’ share prices roar ahead, Citigroup’s languishes. Investors love stocks that are easy to understand. So is it time for Citi to develop a clearer strategy?

Abigail Hofman

It takes just one statistic to indicate what a force Citigroup is in Asia. The franchise (including Japan) is the 40th biggest financial institution in the world on a net income basis. Even excluding Japan, Citigroup does business in 16 countries in the region.

Citigroup’s CEEMEA banks have executed a number of successful transactions in recent years, including several for Polish telecom TPSA. The bank is well positioned in the increasingly important area of Islamic finance. The one area where Citigroup’s CEEMEA banks seek improvement is in the equity markets. Shirish Apte, chief executive for CEEMEA, Citigroup, speaks with Sudip Roy about their plans for the future.

It hasn’t been the easiest of starts to 2006 for Citigroup in Asia, with continuing integration challenges at its Korean banking acquisition and difficult negotiations with existing and future partners over its China strategy [see Citigroup fails to solve the China conundrum, this issue]. Now Citi’s China strategy will need to be reconsidered after the departures of chief rainmakers Francis Leung and Wei Christianson.

The US bank has made an expensive foray into China’s banking market, with little to show from two-and-a-half years’ work and millions of dollars spent.

More than 50% of Citigroup’s corporate and investment banking revenues come from outside north America, so emerging markets are the cornerstone of its success or failure. It already dominates some areas but can it blow the competition away in every product and in every region? Sudip Roy reports.

Citigroup wants to pioneer a new type of private banking for active wealth creators. Helen Avery speaks to the man who aims to drive the firm forward.

America might still run the internet, but even the biggest bank in the world has to take its time when it comes to cyber-squatting.

Citigroup's vision of the ultimate financial company, manufacturing and selling every financial product, is lost. A series of scandals betrayed the fact that the structure Sanford Weill built had reached the limits of its manageability. Charles Prince now has a new plan to put the bank back on track. Will it work?

Bank of America announced in June its intention of investing $3 billion for a 9% stake in China Construction Bank, China's second-biggest state lender, as part of a strategic move into the country. In a deal that took the market by surprise, Bank of America stated that it had entered into agreements with CCB to provide strategic assistance in relation to, inter alia, corporate governance, risk management, credit cards, consumer banking and treasury services. Bank of America is presumably salivating over the prospect of CCB's 136 million retail accounts and 14,500 branches.

With a long history in the region, the most extensive network of any bank and a full suite of financial products, Citigroup is the biggest force in Asian banking. Yet it is still facing challenges. Chris Leahy spoke to Robert Morse, chief executive officer, corporate & investment banking, Citigroup Asia Pacific, about the bank's performance in Asia

Citigroup regains top spot in our poll of polls from Deutsche Bank, which had nudged it back into second place last year. Hard data from the league tables confirm customers' votes that put Citigroup at the top in capital raising and cash management.