ST. LOUIS- The two men at the top of Citigroup Inc, the third-biggest U.S. bank and the most international, acknowledged on Tuesday that the company must do more to simplify itself.
ST. LOUIS, April 22- The two men at the top of Citigroup Inc, the third-biggest U.S. bank and the most international, acknowledged on Tuesday that the company must do more to simplify itself.
NEW YORK, April 3- Citigroup Inc said on Thursday that Gene McQuade, a bank executive who was retiring to become a director, will lead a new push to win permission from the Federal Reserve to pay higher dividends and buy back stock. Corbat said the Fed's rejection last week of Citigroup's plan to distribute capital "is a call to action for our firm."
NEW YORK, April 2- Morgan Stanley Chief Financial Officer Ruth Porat on Wednesday called on government and corporate leaders to encourage the promotion of women into senior business roles, saying the number of women in top positions at U.S. corporations is "an embarrassment."
WASHINGTON/ NEW YORK, March 26- The Federal Reserve on Wednesday rejected Citigroup Inc's plans to buy back $6.4 billion of shares and boost dividends, saying the bank is not sufficiently prepared to handle a potential financial crisis.
Federal Reserve on Wednesday rejected Citigroup's planned payout to shareholders because of shortcomings found in its annual check-up of the financial health of the country's biggest banks, the second time Citi was dealt a blow in the so-called stress tests.
March 12- Citigroup Inc has reduced the annual compensation of high-ranking executive Manuel Medina-Mora following problems with controls against money laundering at the Mexico subsidiary he oversees.
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.
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.