In a marked difference to prior annual meetings, Citigroup shareholders praised management and the board on Wednesday for revitalizing the bank's strategy.
NEW YORK, April 24- The chairman of Citigroup Inc said on Wednesday that the company had already done the "major work" in shrinking the bank down to a profitable core and that directors are confident in the current strategy.
April 15- Citigroup Inc said on Monday first-quarter profit jumped a better-than-expected 30 percent as the bank made more money from underwriting stock issues and advising companies on mergers. Citigroup shares rose 2.6 percent to $45.95 in morning trading.
April 15- Citigroup Inc reported a higher-than-expected 30 percent rise in first-quarter profit on Monday as revenue from its securities and investment banking business swelled.
April 15- Citigroup Inc reported a higher-than-expected 31 percent rise in first-quarter profit on Monday as revenue from its securities and investment banking business swelled.
*Citigroup looks to draw down liquid assets by $35 billion. *Citigroup's liquidity measure stronger than JPMorgan's. NEW YORK, March 27- Citigroup Inc is considering cutting its cash on hand by about $35 billion, which should help the bank buy higher yielding assets or redeem expensive debt to boost earnings.
The central bank is hoping to change a deeply ingrained habit on Wall Street: awarding bonuses to senior executives based in part on whether the company's performance lagged or beat rivals. The Dodd-Frank financial reform law charged the Fed with implementing new rules about Wall Street pay.
LONDON/ ZURICH, March 6- The chief executive of one of Europe's most talked-about new hedge fund firms has stepped down in a bid to save costs after a big investor pulled its support, people familiar with the situation said.
March 5- Mike Corbat, the new chief executive officer of Citigroup Inc, said the company's profit goal for 2015 is earn at least a 10 percent return on the company's tangible common equity. Corbat, was named CEO in October to replace Vikram Pandit, and was prodded by analysts in the company's January conference call to set performance benchmarks for the company.
NEW YORK, Feb 21- Citigroup Inc said on Thursday it has overhauled an executive pay plan that shareholders rejected last year as overly generous, revising it to tie bonus payments more closely to stock performance and profitability.
*FedEx: policy gives boards less leeway. *T. Rowe Price executive praises move by ISS. A study of thousands of corporate elections published by the Journal of Finance in 2009 found that a negative recommendation from ISS reduced support for directors by 19 percent.
*Operating profit 69 cents/ share vs Street view 96 cents. NEW YORK, Jan 17- Mike Corbat, Citigroup Inc's new CEO, used his earnings debut to temper investor expectations for a turnaround at the company, delivering subdued profits and saying the bank still had a lot left to clean up.
NEW YORK, Jan 17- Citigroup Inc posted $2.32 billion of charges for layoffs and lawsuits in its first financial report under its new chief executive, Michael Corbat, who cautioned that the bank needs more time to deal with the problems it faces.
NEW YORK, Jan 7- The newly appointed chief executive of Citigroup Inc named two veterans of the bank to lead its institutional and consumer businesses as he announced his new management team on Monday.
*Citi has Monday deadline for stress test by Fed. Jan 6- Citigroup Inc's Michael Corbat has been meeting with bank regulators in his first months as CEO, as he looks to bolster relationships and finalize the bank's plan to return capital to shareholders, sources familiar with the matter said. Corbat is expected to play it safe when Citigroup asks the U.S.
Dec 5- Citigroup Inc said it is cutting 11,000 jobs worldwide, about 4 percent of its staff, to save as much as $1.1 billion a year in expenses. Citi said it plans to sell or significantly scale back consumer operations in Pakistan, Paraguay, Romania, Turkey and Uruguay. The bank also plans to shed 84 branches in Brazil, Hong Kong, Hungary, Korea and the United States.
*Apple shares fall more than 4 percent. NEW YORK, Dec 5- An unexpected decline in shares of Apple Inc led U.S. stocks lower on Wednesday, as the tech giant dropped nearly 5 percent in heavy trading. Apple shares were down at $546.70 and accounted for more than half of the Nasdaq 100' s 1.5 percent selloff.
*Company expects annual expense savings of $1 billion. Dec 5- Citigroup Inc, which has lagged behind its peers in recovering from the financial crisis, said it is cutting 11,000 jobs worldwide, about 4 percent of its staff, to save as much as $1.1 billion a year in expenses.
Dec 5- Citigroup Inc will eliminate 11,000 jobs worldwide, about 4 percent of its total staff, in a move to save as much as $1.1 billion a year in expenses, the company said on Wednesday. The move will initially result in pre-tax charges of $1 billion to fourth-quarter earnings, the company said in a statement.
Dec 5- Citigroup Inc will eliminate 11,000 jobs worldwide, about 4 percent of its total staff, in a move to save as much as $1.1 billion a year in expenses, the company said on Wednesday. The move will initially result in pre-tax charges of $1 billion to fourth quarter earnings, the company said in a statement.