Citigroup’s far-flung operations have long been one of its greatest strengths. CEO Mike Corbat formerly ran the bank’s operations in Africa, Europe, and the Middle East, but being the most exposed to the emerging markets has been a liability lately. Still the firm’s financial strength is among the best of the big banks these days, a big turnaround from 2008, when Citi nearly failed in the financial crisis. Citi came back to life by becoming super cost efficient, but the boost from cost cutting may be coming to an end. Recently revenue has been falling faster than Citi can cut expenses.
News about Citigroup
Citigroup is moving 1,100 employees out of the One Court Square office building in Long Island City.
JPMorgan said it is pledging to give out $10 billion in loans to women-owned businesses.
Ether has slumped 8.9% since Friday afternoon, while Bitcoin has lost 2.1%.
Congress’s new sex trafficking law isn’t enough on its own.
PayPal's popular app is facing pressure from bank copycats.
Videos about Citigroup
We're talking Linda McMahon, gender parity, and new pushes for diversity reports from activist investors. Tune in!
The CEO of CITI Ventures explains how fin-tech is changing consumers’ borrowing and spending habits.