The neighborhood has created heartache for its residents, but it is also disappointing for Citigroup Inc, which helped finance Desarrolladora Homex, the site's developer and once Mexico's second-largest homebuilder. And some banking analysts say they fear the loan losses could be a taste of further emerging market credit losses to come for Citigroup.
Feb 20- Citigroup Inc Chief Executive Michael Corbat received a 23 percent pay rise in 2013, his first full year after replacing Vikram Pandit at the helm, a regulatory filing on Thursday showed. Corbat earned an estimated $14.1 million in 2013 under Citi's executive pay structure, which the company overhauled last year amidst shareholder pressure.
Jan 16- Citigroup Inc posted weaker-than-expected quarterly results on Thursday, as lackluster bond-trading results weighed on overall revenue. The bond trading results lagged rivals' including Bank of America Corp and JPMorgan Chase& Co..
Jan 13- Citigroup's former Chief Operating Officer John Havens has been appointed as non-executive chairman of Napier Park Global Capital LLC, the hedge fund spun out of the bank last year. Napier Park, which has about $5.5 billion in assets under management, was spun out of Citigroup last year and the bank retains a minority stake in it.
NEW YORK, Dec 11- Citigroup Inc named Duncan Hennes, a co-founder of bank advisory firm Promontory Financial Group and a former CEO of Soros Fund Management, to its board of directors on Wednesday.
Oct 15- Citigroup Inc posted weaker-than-expected third-quarter earnings on Tuesday, hit by a drop in bond trading revenue after the Federal Reserve refrained from changing its bond buying program and customer activity fell. Citigroup's bond trading revenue dropped 26 percent, or $956 million, excluding an accounting adjustment.
In a marked difference to prior annual meetings, Citigroup shareholders praised management and the board on Wednesday for revitalizing the bank's strategy.
And battles will brew over Volcker and derivatives rules.
Some corporate governance experts argue that Say on Pay has had little if any impact on reining in what public companies decide to pay their leaders.
The combined role of chairman and chief executive officer, a corporate governance structure favored by many Fortune 500 firms, may soon go the way of the pension plan.
Empowered shareholders have helped drive board members from their seats and CEOs from their perch in a string of companies. In response, board members are upping their efforts to please.
The resignation of Citigroup CEO Vikram Pandit last week may not have been as sudden as it seemed, reports CNBC's Kayla Tausche.
Harvey Pitt, Kalorama Partners CEO, weighs in on whether Vikram Pandit's resignation was his decision alone.
Vikram Pandit’s last day at Citigroup swung from celebratory to devastating in a matter of minutes. Having fielded congratulatory e-mails about the earnings report in the morning that suggested the bank was finally on more solid ground, Mr. Pandit strode into the office of the chairman at day’s end on October 15 for what he considered just another of their frequent meetings on his calendar.
*Citi, Yahoo, AIG examples show more aggressive boards. NEW YORK, Oct 24- In the summer of 2011, Yahoo Inc's board decided enough was enough. So, the board held a final meeting in Los Angeles, away from Yahoo's Silicon Valley headquarters, to review the company's progress, a source familiar with the matter said.
Confusion seems to be reigning over at Citigroup where CEO Vikram Pandit resigned unexpectedly earlier this week. CNBC's Kate Kelly reports Securities and Banking Chief James Forese was unofficially offered the President/COO title, but Forese is reluctant to the role.
Wall Street executives are "delusional" if they think their pay will continue to rise significantly, Kenneth Feinberg, the former Obama administration special master on executive pay, told CNBC on Friday.
When Michael E. O’Neill became chairman of Citigroup, he took a detailed look at business lines, a hands-on approach that created friction with CEO Vikram Pandit, and paved the way for Pandit's ouster, the New York Times reports.
William Cohan, author of "Power and Money: How Goldman Sachs Came to Rule the World" and a veteran Wall Street watcher, says the former Citigroup chief executive was most likely pushed out from his the C-suite office.
Former SEC chief Harvey Pitt told CNBC Wednesday that the commission should investigate the surprise departure of CEO Vikram Pandit from Citigroup, since there were no hints given on the bank's earnings call the day before.