Citigroup Inc.’s board of directors reports that it has elected Peter Blair Henry as a new independent director, with his term beginning July 1, 2015. Henry is the dean of New York University’s Leonard N. Stern School of Business and an international economist who specializes in emerging economies, according to a Citi statement, which notes… Read More >>
Citi Cuts Staff as Jill Considine Joins LCH.Clearnet
Citi Cuts Staff as Profits Rise Multiple news organizations are reporting that Citigroup is cutting 200 to 300 positions from equity and fixed income trading groups even as the bank reported favorable net income results for the first quarter of this year. For Q1 2014, the bank’s net income was up four percent to $3.9… Read More >>
Citi Sets Up a Co-Presidency as HKEx Revamps Top Management
Citi’s CEO to Work with Co-Presidents Citigroup’s CEO Michael Corbat says he has appointed Jamie Forese and Manuel Medina-Mora as co-presidents of the bank to provide continuity as Citi aims for operational excellence and bottom-line results for its clients and stakeholders. The executive appointments follow Vikram Pandit’s exit this past October from his post as… Read More >>
Pandit Exits Suddenly from Citi as the SEC Names a Deputy IT Executive
Citi Bids Farewell to Pandit and a COO Saying it’s the right time to exit, Vikram Pandit has stepped down from his post as CEO for Citigroup and has left Citi’s board of directors effective immediately, according to bank officials. The Wall Street Journal has reported that disputes over strategy and management between Pandit and… Read More >>
GFI to Open an Office in Mexico as NYSE Technologies Appoints New CEO
Robson Takes CEO Post at NYSE Technologies Market data industry veteran Jon Robson has left his position as president of the Enterprise Division at Thomson Reuters to become the next CEO of NYSE Technologies, say officials at NYSE Euronext. As CEO, Robson will oversee the connectivity, transaction and data services business of the commercial technology… Read More >>
RIAs and Outsourcing
Over the past year, back office services provider BridgePortfolio has seen an uptick in demand for its outsourced offerings—which weave in Fiserv’s software—among registered investment advisors (RIAs). But BridgePortfolio is also seeing more RIAs willing to outsource front, middle and back office operations, says Mike Ruane, national sales manager for the Chicago-based vendor.“I manage the… Read More >>
Sandy Weill’s Stunning Reversal
Back in April, I blogged about a Federal Reserve Bank of Dallas official who says the industry failed to address the “too big to fail (TBTF)” issue and that we should break up giant banks. I questioned then whether there ever would be a debate on the subject. After Sandy Weill’s comments yesterday, I am… Read More >>
The SEC Neither Admits Nor Denies a Flawed Policy
I was initially elated when I first read that the SEC was getting rid of its “neither confirm nor deny” language. However, the more I drilled down to the details it became clear that it was a narrow change and not the reform I thought had been inspired by US District Court Judge Jed Rakoff…. Read More >>
