Citi: special focus

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Euromoney's recent coverage of the global wholesale bank.

Technology investments drive up banks’ costs
August 2017


For all their boastful talk of becoming technology companies, Citi points out that many banks still depend on legacy IT platforms that are now as much as 40 years old.

Choosing Greenpeace over clients: the new banking reality
August 2017
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Kinder Morgan’s Trans Mountain Pipeline has left 26 banks wide open to backlash. But there is one bank that isn’t impacted at all… And that is Citi.

Awards for Excellence 2017

World's best bank for markets 2017: Citi
July 2016
Citi is perhaps the only global markets business remaining that shows that scale and breadth – both geographically and by product – can deliver good returns.

Solving the challenge of world’s unbanked is going to take investment, innovation, and an ability to bring together key players in payments, fintech and microfinance. No bank is quite as committed to that combination as Citi.

Citi aims to develop new banking apps with the speed of a Silicon Valley startup and deliver them across a vast incumbent bank.

How the universal banking model will be reborn
July 2017

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Have HSBC and Citi found a way to cut costs and maintain revenues in Latin America? If so, local banks will not accept that quietly.

FX Survey 2017: All change but no change
May 2017

The top firms this year look like they haven’t moved in 18 years. For example, there is Citi in its accustomed place at number one. How can nearly two decades of upheaval appear to have altered the rankings so little in Euromoney’s foreign exchange survey?

Citi’s own fintech upstart disrupts from the inside
January 2017 


Citi's new mobile app is a first crucial step to re-invention. Head of consumer banking, Stephen Bird, tells Euromoney the bank may have only a couple of years to convince customers it is the high-quality, always-connected partner with the services they want.

Citi’s $1 billion push ‘won’t alter’ Mexican dynamics
November 2016

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Internal analytics, not retail price war, behind the move; strong growth expectations prompt high bank valuations.

Banking: CEOs call for regulatory harmony, time to digest change
November 2016 
Brexit threatens eurozone, but region still crucial to global banks.

Citi rebrands in Mexico as HSBC signals it will stay
October 2016
Citi seeks to commit to Mexico after Latin America withdrawal; HSBC injects capital but commitment questioned.

Dimon, Corbat and Gorman talk Brexit
October 2016
The topic of Brexit was never going to be far from the minds of delegates at the annual meetings of the International Monetary Fund and the Institute of International Finance, both being held this week in Washington, DC. And on Friday afternoon, delegates got a chance to hear the views of three vocal US bank chief executives — Jamie Dimon of JP Morgan, Mike Corbat of Citi and James Gorman of Morgan Stanley.

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Emerging Europe: Citi stands firm in CEE as rivals pull back
September 2016
Collapsing investment banking volumes have prompted global players to pull back from emerging Europe over the past two years. But Citi’s Jim Cowles, CEO for EMEA, has alternative sources of revenue to fall back on.

Asia: Citi grabs a ride in taxi tie-up
September 2016
Citi is joining up with the Singapore-based ride-hailing service Grab in a partnership that will allow people to burn credit card loyalty points in exchange for taxis – a world first.

Check your hedges, Citi warns corporates, amid Brexit FX volatility
July 2016
The UK's decision to leave the EU has left corporates scrambling to review many aspects of their business to ensure they are able to withstand heightened volatility. Injecting a greater level of optionality into their hedging strategies is one way to protect themselves from increased uncertainty, says Citi.

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Awards for Excellence 2016

World's best bank for financial institutions

World's best investment bank in the emerging markets

World's best bank for transaction services

Africa's best bank for financing

Asia's best bank for markets

Asia's best bank for transaction services

CEE's best investment bank

Central America and Caribbean's best investment bank

Latin America's best investment bank

Latin America's best bank for markets

Latin America's best bank for transaction services

Wealth management: Mansour's new style of family office

June 2016
Global institutions like Citi are adept at managing the fortunes of the wise and wealthy, but Mohamed Mansour decided to build his own business to manage his family’s wealth and staff it with seasoned investment bankers. Six years on...

Citi sees the funny side
June 2016 
When an investment bank sponsors a national award in investigative business journalism, there will occasionally be inevitable tension between the bank that rewards the journalism while also being on the receiving end of it.

All change in the 2016 Euromoney FX rankings
May 2016
Citi retains top ranking while Deutsche plummets.

FX: Fired currency traders fight back

April 2016

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Ex-Citi trader Carly McWilliams’ employment tribunal win will spur on other fired currency traders waiting for their day in court and encourage more women to bring unfair dismissal claims, say legal experts. The banks’ argument that a handful of rogue traders acting behind senior managers’ backs were to blame for the currency rigging scandal is contested.

Orient IPO brings Citi partner to Hong Kong market
April 2016 
Citi JV opts for Hong Kong for IPO, but should it have gone six months ago?

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Citi plots next stage of development in Asia
April 2016 Citi’s Asia-Pacific business is the ultimate test of its universal banking model. New regional CEO Francisco Aristeguieta knows he needs to build on its strong component parts, not just to maintain its position in Asia, but to push the bank forward globally.

Citi capitalizes on market retrenchment for Shell win
September 2015
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Rajesh Mehta, regional head of treasury and trade solutions, EMEA, at Citi, comments on the bank’s winning mandate to provide Shell’s cash management services for 16 countries in western Europe.

Best global bank 2015: Citi – Last man standing
July 2015
Citi is the last global wholesale bank offering all products to its clients everywhere. It operates in 100 countries and boasts a payment system handling $3 trillion of transactions a day, which no other bank is ever likely to emulate. It has taken the axe to its global consumer business, but still operates in 24 countries. Under the leadership of Michael Corbat, Citi has closed the share price discount to book value. It must now prove that a global universal bank can avoid the pitfalls of scale and deliver sustainable returns. If it does, it will be the only one.

Bird’s promotion recognises strengths of Citi Asia
May 2015
Move raises profile of Asia Pacific; Bird heralds ‘Asia’s century’.

Citi's top TS banker eyes SME support
April 2015
Naveed Sultan, global head of treasury and trade solutions (TTS) at Citi, explains the importance of developing SME and MME financing options, as the clout of transaction services to Citi's business strategy grows.

Trade finance: Citi grows global commodities as rivals exit
February 2015
Buys trading portfolios from Credit Suisse, Deutsche; integration of commodities and banking paying off.

Private banking CIO outlook: Citi Private Bank
January 2015
Steven Wieting, global chief investment strategist for Citi Private Bank, shares his firm's views on the surprises of 2014 and the market ahead.

Cutting the fat in FICC
May 2014 
For the first quarter, Citigroup reported an 18% decline in fixed-income revenues compared with 2013 and chief financial officer John Gerspach described the overall FICC business as a “shrinking pie”.

Citi to launch new private-bank client technology
February 2014
Citi Private Bank is set to launch its new client/banker technology platform at the end of February, with the hope it will be the industry standard for digitalization.

Corbat reconsiders Citi’s global resources
August 2013
Michael Corbat looked like a safe pair of hands when he took over from Vikram Pandit as Citi’s chief executive. Known as a details man, a leader and strong manager, he will execute the strategy Pandit first laid out. But overseeing the rundown of Citi Holdings has given him a taste for better deploying scarce resources. And every business in Citi’s renowned 100-country network, the bank’s defining differentiator, will have to justify itself to his scrutiny.

Citi: Taking share in flat markets
August 2013
Since 2009, after John Havens had to slash headcount and reduce the investment banking business to serve far fewer customers, Citi has been fighting its way back to prominence.

Vikram Pandit and John Havens: Restructurning – The light comes on at Citi
December 2009
From the ruins of a failed, large investment bank, Vikram Pandit and John Havens are trying to build the foundations of a much better, smaller one. It’s still global in ambition but designed to deal with fewer clients, commit its capital much more thoughtfully and this time in the right businesses. Sceptics either say they’ve heard it all before or question why it took the bank’s leaders so long to reach the obvious conclusion. But the early signs are that it’s working rather well. Peter Lee reports.