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The FIFC will house all key businesses of Citi currently spread across Mumbai and other cities across six floors. The FIFC will be the second landmark property for Citi at BKC after the Citigroup Centre
There are encouraging signs that shareholders are taking an activist approach to their ownership responsibilities. Citigroup's rejection of its chief executive's pay award and Barclays' remuneration concessions are two examples.
Traditionally, employee-shareholders have rarely exercised their voting power. But, as the vote at Citigroup suggests, stockholders of all stripes may be starting to assert themselves moreMore quotes »
Newsday's coverage
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After JPMorgan loss, a call for stricter oversight
long, long way from getting our arms around this whole 'too big to fail' issue," said Cliff Rossi, a former top risk executive for Citigroup, Countrywide and other big financial companies.Immediately after the crisis, a time of popular outrage over bailouts Read more »
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Editorial: Shareholders finally speak up
already. That was the welcome message from Citigroup shareholders Tuesday when they rejected the pay package of their chief executive, Vikram Pandit , in a nonbinding vote. Pandit was paid only $1 in 2010. But don't look for him on any bread lines; he joined Read more »
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Citigroup investors give thumbs down to exec pay
has become the first Wall Street bank to get a thumbs-down from shareholders over outsized executive pay.At its annual meeting Tuesday, 55 percent of the bank's shareholders voted against the pay packages that have been granted to Citigroup's top executives, Read more »
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Citi made $2.9B in 1Q; global transactions grow
faster than they were spending. Citi's total deposits grew 5 percent to $906 billion.John Gerspach, chief financial officer of Citigroup, said that roughly 26 percent of the bank's balance sheet was now in cash or similar investments rather than earning income Read more »
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Citigroup settles over excessive charges for $1.2M
transactions.The Financial Industry Regulatory Authority , the securities industry's self-policing regulator, say it has fined a Citigroup subsidiary $600,000 and ordered it to repay $648,000 to customers for excessive charges.FINRA says Citi International Read more »
Around the web
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Indian markets may bounce back: Citigroup
risks," said Geoffrey Dennis, MD - global emerging markets, Citi Investment Research, on the sidelines of an investors' meet. Citigroup's outlook for India is in line with those of other emerging markets and it expects stable earnings growth in the coming 5/30/12 from Economic Times Read more »
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Research In Motion PT Lowered to $9.50 at Citigroup (RIMM)
research analysts at Citigroup (NYSE: C) lowered their price target on shares of Research In Motion (NASDAQ: RIMM) to $9.50 in a research note issued to investors on Wednesday. The analysts wrote, “We reiterate our Sell rating & reduce our target price to 5/30/12 from American Banking and Market News Read more »
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Citigroup to beef up wealth management
It could happen within a year or so, even though it might take binding arbitration to make it happen. But the sale will not leave Citigroup without a high-end retail wealth management offering. Reuters reports that the bank is building up its Goldbank brand, 5/30/12 from Fierce Finance Read more »
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Citigroup Is Getting More Bullish On LinkedIn Because User Satisfaction Is Surging (LNKD)
Mark Maheny is out with a bullish call on LinkedIn, giving it a BUY rating and a price target of $125. He provides three reasons for liking the company: The company has a fantastic track record as a public company. Its seen 7 straight quarters of 100%+ revenue 5/30/12 from The Business Insider Read more »
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December Surprise? From Rubin to Pelosi, Wall Street & DC Dems Push Post-Election Austerity
used his government power to help create, where eventually became CEO. Many observers have marveled at the fact that no senior Citigroup executive has been brought up on criminal charges, especially after it paid $285 million in SEC fines to settle charges 5/30/12 from Health Care For All Read more »