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According to CNBC, Citigroup’s restructuring process has become known internally as “Project Bora Bora. ... with its stock continuing to sell at less than half its tangible book value ...
Citi's board approved a $20 billion stock buyback program, authorizing management to buy back up to $1.5 billion during the first quarter of 2025. TRADING, INVESTMENT BANKING.
Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results and stock price.. About 20,000 employees will be let go over the “medium term,” New ...
Shortly after the report's publication and a sharp drop in Citigroup's stock, Charles Prince resigned as the bank's CEO and his successor slashed the dividend. [13] [14] Earlier that year, Forbes magazine had listed Whitney as the second-best stock picker in the capital-market industry. [15] Citigroup stock went on to lose 97% of its value by ...
Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, the bank holding company for Citibank , and Travelers ; Travelers was spun off from the company in 2002.
The following year of 2003, Weill sold 5.6 million shares of Citigroup stock back to the financial institution itself for nearly $264 million and semi-retired, relinquishing the title of chief executive officer (CEO) to Charles O. ("Chuck") Prince (born 1950), who however only served for the next few years, stepping down himself as both CEO and ...
Citigroup projects quarterly revenue of $19.42 billion, compared to $17.44 billion a year earlier, according to data from Benzinga Pro. On Monday, Barclays upgraded the stock from Equal-Weight to ...
Jane Fraser (born 13 July 1967) is a British-American banking executive who is the chief executive officer (CEO) of Citigroup, a position she has held since March 2021. [1] [2] Educated at Girton College, Cambridge, and Harvard Business School, she worked at McKinsey & Company for 10 years, rising to partner prior to joining Citigroup in 2004.