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Citi is a global financial services company that operates through five main business segments, providing a wide range of financial products and services . The company offers cash management, trade, working capital solutions, securities services, sales and trading services, investment banking, corporate lending, traditional banking services, and wealth management . Citi's diversified business model and global network enable it to maintain leadership positions in key areas and drive revenue growth across its segments .
- Services - Provides cash management, trade, working capital solutions, and securities services through Treasury and Trade Solutions (TTS) and Securities Services .
- Treasury and Trade Solutions (TTS) - Offers cash management and trade solutions.
- Securities Services - Delivers securities services and working capital solutions.
- Markets - Offers sales and trading services across various asset classes, including equities and fixed income, with a focus on maintaining leadership in fixed income .
- Banking - Encompasses Investment Banking and Corporate Lending, supporting client capital-raising needs and strategic financing solutions .
- U.S. Personal Banking (USPB) - Includes Branded Cards and Retail Services, providing traditional banking services and contributing to consistent revenue growth .
- Branded Cards - Offers credit card services.
- Retail Services - Provides traditional banking services.
- Wealth - Serves affluent and high-net-worth clients with a range of financial services, expected to grow at a high single-digit to low double-digit CAGR .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Titi Cole ExecutiveBoard | Director | Datadog, Inc. (Board Member), Sickle Cell Hope Alive Foundation (Executive Director of Development) | Titi Cole is a Director at Citigroup as of January 31, 2025, previously serving as Head of Legacy Franchises. | |
Jane N. Fraser Executive | CEO | Council on Foreign Relations (Board Member), Harvard Business School (Board of Dean’s Advisors), Stanford Advisory Board (Member) | Jane Fraser is the CEO of Citigroup Inc. since March 2021, with extensive experience across Citigroup’s business segments and recognized for her leadership in governance, regulatory interaction, and risk management. | View Report → |
Mark A. L. Mason Executive | CFO | N/A | Mark Mason is the CFO of Citigroup, having joined in 2001. He has held various senior roles within Citigroup, including CEO of Citi Private Bank and CFO of Citi’s Institutional Clients Group. | |
Patrick Scally Executive | Interim Controller | N/A | Patrick Scally is the Interim Controller of Citigroup since September 2024, having been with the company since 1992. | |
Robert Walsh Executive | Interim Chief Accounting Officer | N/A | Robert Walsh is the Interim Chief Accounting Officer of Citigroup since September 2024, with over two decades of experience at Citigroup. | |
Barbara J. Desoer Board | Director | DaVita Inc. (Board Member), InStride (Advisory Board Member) | Barbara Desoer has been a Director of Citigroup since 2019, with over 40 years of experience in financial services, including a 35-year career at Bank of America. | |
Casper W. von Koskull Board | Director | Heimstaden Bostad Ab (Chairman), Fazer Ab (Chairman), Stena Ab (Board Member) | Casper von Koskull has been a Director of Citigroup since January 2023, with over 35 years of experience in institutional and international finance. | |
Diana L. Taylor Board | Director | Brookfield Corporation (Director), Accion (Chair of the Board), Columbia Business School (Board of Overseers) | Diana Taylor has been a Director of Citigroup since 2009, with extensive experience in financial services and regulatory compliance. | |
Duncan P. Hennes Board | Director | RenaissanceRe Holdings Ltd. (Board Member) | Duncan Hennes has been a Director of Citigroup since 2013, with extensive experience in risk management, financial services, and corporate governance. | |
Ellen M. Costello Board | Director | The Economic Club of Chicago (Member) | Ellen Costello has been a Director of Citigroup since 2016, with extensive experience in financial services, risk management, and regulatory compliance. | |
Gary M. Reiner Board | Director | Hewlett Packard Enterprise Company (Board Member) | Gary Reiner has been a Director of Citigroup since 2013, with expertise in technology, cybersecurity, and data management. | |
Grace E. Dailey Board | Director | N/A | Grace Dailey has been a Director of Citigroup since 2019, with 36 years of experience as a banking regulator, focusing on risk management and regulatory compliance. | |
James S. Turley Board | Director | Emerson Electric Co. (Board Member), Northrop Grumman Corporation (Board Member), Precigen, Inc. (Board Member) | James Turley has been a Director of Citigroup since 2013, with expertise in financial reporting, corporate governance, and risk management. | |
John C. Dugan Board | Chair of Citigroup Inc. | Mitsubishi UFJ Financial Group, Inc. (Global Advisory Board Member), University of Michigan’s “Michigan in Washington” Program (Advisory Board Member) | John Dugan has been Chair of Citigroup Inc. since January 2019, with a background in regulatory, legal, and compliance matters. | |
Peter B. Henry Board | Director | Nike, Inc. (Board Member), Analog Devices, Inc. (Board Member), National Bureau of Economic Research (Board Member) | Peter Henry has been a Director of Citigroup since 2015, providing insights on emerging markets and international business. | |
Renée J. James Board | Director | Ampere Computing (Founder, Chair, and CEO), Oracle Corporation (Board Member) | Renée James has been a Director of Citigroup since 2016, with a background in technology leadership and cybersecurity. | |
S. Leslie Ireland Board | Director | The Stimson Center (Board Member), Chubb Insurance (Cyber Advisory Board Member), KnightSwan Acquisition Corp. (Director) | S. Leslie Ireland has been a Director of Citigroup since 2017, with expertise in financial intelligence, cybersecurity, and risk management. |
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Given the progress you've made on the transformation and regulatory consent orders, why did you receive an amended consent order related to data quality and regulatory reporting, and is this an issue of insufficient resources or needing to change your approach?
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You mentioned that you closed a BSA/AML order this quarter, yet concerns remain about your data quality and regulatory reporting; can you clarify whether these issues are impacting your ability to serve clients or causing any operational disruptions?
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With your stock trading at $64 compared to a tangible book value of $90, why aren't you being more aggressive in repurchasing shares, especially given the disconnect between your performance and stock price?
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In light of concerns about judicial reform in Mexico and the potential negative impact on Banamex's valuation, how do you plan to proceed with the IPO, and are you prepared to delay it if market conditions don't improve?
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Despite improvements in net interest income in certain areas, you've guided for NII ex-markets to be roughly flat sequentially and slightly down for the full year; what's driving this headwind, and how do you plan to address it going forward?
Citations: The auditor, KPMG LLP, has served as Citigroup's auditor since 1969. **[0000831001-24-000033_c-20231231.htm:211]**
Recent press releases and 8-K filings for C.
- Investment banking gains: Citigroup detailed how its market share increased from around 4% to over 5% through strategic focus on high grade bond issuance and robust M&A activity, driving overall competitiveness.
- Talent and global expansion: The bank is investing in hiring and building bench strength while expanding its global footprint across key regions such as the UK, Germany, China, Japan, and India to better serve multinational clients.
- ROTCE and capital optimization: Citi is aiming to boost its ROTCE by driving earnings momentum through increased deal flow and more efficient capital deployment, expecting mid single-digit growth in banking and market segments.
- S&P 500 target raised to 6,300 by year-end, up 500 points from April, after the index topped 6,000 for the first time since February.
- Forecasts three 25 bp Fed cuts in September, October, and December 2025 (totaling 75 bp), delayed from an earlier view of four cuts starting in July.
- Expects two additional 25 bp cuts in January and March 2026, reflecting mixed labor market signals after 139,000 May job additions.
- Divergence: Morgan Stanley anticipates no Fed cuts in 2025, underscoring uncertainty in monetary policy timing.
- Mark Tucker will retire as HSBC chairman at end-September 2024 and assume the role of non-executive chairman of AIA Group on October 1, 2024.
- Edmund Sze-Wing Tse, an 87-year-old six-decade veteran, will become chairman emeritus of AIA upon Tucker’s arrival.
- HSBC has appointed Brendan Nelson as interim chairman and launched a search for a permanent successor led by senior independent director Ann Godbehere.
- Tucker will serve on AIA’s nomination and remuneration committees and remain a strategic adviser to HSBC’s CEO and board during the transition.
- Cutting about 3,500 technology roles in China by early Q4 2025 as part of a global plan to reduce 20,000 jobs by 2026; some positions will be relocated to other technology hubs.
- Citibank (China) Co. will not be affected by the tech workforce cuts and will continue to receive investment to support corporate and institutional banking clients in China.
- The bank is continuing to pursue establishing a wholly owned securities and futures company in China despite regulatory delays beyond its initial mid-2023 launch target.
- Citi is shifting from contractors to permanent technology employees in China following regulatory penalties related to data governance and internal controls.
- Reversed a 2018 policy restricting dealings with firearms sellers, signaling a change in approach to politically sensitive issues.
- Hyundai Motor sold 10.88 crore shares at Rs 50.70 each (Rs 552 Cr) and Kia sold 2.71 crore shares at Rs 50.55 (Rs 138 Cr), fully exiting their combined 2.47% stake in Ola Electric.
- Citigroup Global Markets Mauritius bought 8.61 crore shares worth Rs 435 Cr at a 6% discount to the prior closing price.
- Ola Electric’s Q4 FY25 results showed a net loss of Rs 870 Cr and operating revenue of Rs 611 Cr, amid a 52% YoY drop in vehicle registrations.
- Shares fell 7% intraday on June 3, 2025, and have declined 46% over six months, underscoring ongoing financial pressures.
- Citigroup Inc. is issuing C$1,500,000,000 4.55% Fixed Rate/Floating Rate Subordinated Notes due 2035, with the offering priced at 99.65% of the principal amount and a closing date set for June 3, 2025.
- The filing includes a legal opinion by Karen Wang confirming the notes are validly issued, enforceable under their indenture, and compliant with the terms described in the associated prospectus and underwriting documents.
- Shares opened at $69 and surged to $103.75, over triple the $31 IPO price, triggering multiple trading halts due to volatility.
- The offering raised approximately $1.1 billion, was oversubscribed, and attracted investors such as JPMorgan, Goldman Sachs, Citigroup, BlackRock, and ARK Invest.
- Q1 2025 revenue reached $578.6 million with adjusted EBITDA of $122.4 million, up nearly 60% year-over-year.
- The GENIUS Act cleared a Senate procedural vote to establish a federal stablecoin framework, mandating reserve disclosures and 1:1 backing by liquid assets.
- Despite the IPO success, the broader crypto market declined amid macroeconomic headwinds and a high-profile feud between Donald Trump and Elon Musk on the same day.
- Circle raised $1.1 billion by selling 34 million shares at $31 each in its NYSE debut.
- The offering was oversubscribed by over 25×, led by underwriters J.P. Morgan, Citi, and Goldman Sachs, with a 30-day option for 5.1 million additional shares.
- Post-IPO valuation stands at $6.9 billion, rising to $8.1 billion on a fully diluted basis.
- Circle’s USDC stablecoin commands 29% of the global stablecoin market, making it the second-largest behind Tether.
- IATA revised its 2025 global airline industry profit forecast to $36 billion, down from $36.6 billion due to economic uncertainties and trade tensions.
- This projection still exceeds the $32.4 billion net profit recorded in 2024, with total revenues expected to reach $979 billion.
- Net profit margins are forecast to climb to 3.7% in 2025 from 3.4% in 2024, aided by a 13% drop in jet fuel prices.
- Passenger traffic is projected at 4.99 billion, a 4% increase over 2024, although the sector remains vulnerable to regulatory and tax pressures.
- The ECB lowered its key deposit rate by 25 basis points to 2.00%, marking its eighth consecutive cut as eurozone inflation eased to 1.9%.
- Updated ECB projections forecast headline inflation at 1.6% in 2026 before returning to 2% in 2027, while growth is expected at 0.9% in 2025 and 1.3% in 2027.
- President Christine Lagarde emphasized she intends to complete her term at the ECB, rejecting speculation about leaving to lead the World Economic Forum.
- The widening rate gap with the U.S. Fed has drawn criticism from President Trump towards Fed Chair Powell and triggered volatile EUR/USD trading, briefly pushing the pair to $1.1450.