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Institutional FX

First $400M, Now Another $136M: Citigroup Pays Again for Risk Management Failures

  • The Federal Reserve has fined Citigroup $60.6 million over persistent control weaknesses.
  • A separate fine of $85 million was imposed by the Office of the Comptroller of the Currency.
Thursday, 11/07/2024 | 07:03 GMT by Damian Chmiel
Retail FX

Citigroup Fined €12.9M for Algorithmic Trading Violations in Germany

  • According to BaFin, Citigroup failed to maintain proper systems and risk controls.
  • It led to a market disruption caused by erroneously transmitted orders.
Thursday, 20/06/2024 | 09:38 GMT by Damian Chmiel
Retail FX

Citigroup Fined £61.6M over Algorithmic Trading Mistake Worth £1.4B

  • FCA and PRA have imposed a joint penalty on the giant.
  • The error caused short-term drop in several European indices and market disruption.
Wednesday, 22/05/2024 | 06:29 GMT by Damian Chmiel
Retail FX

Intertrader Taps Citigroup Veterans to Bolster Event-Driven Investment Strategies

  • David Lackenby will lead the Event-Driven Sales Trading team.
  • Mark Brodie joins Intertrader's Olivetree as an Event-Driven Sales Trader.
Thursday, 16/11/2023 | 20:26 GMT by Jared Kirui
Institutional FX

Citigroup Plans to Double Staff and Open New Trading Floor in Paris

  • It is another move two strengthen the company's presence in Europe after Brexit.
  • The French trading branch hires 130 people and wants to expand to 250 in the foreseeable future.
Monday, 06/03/2023 | 11:20 GMT by Damian Chmiel
Institutional FX

SFC Imposes 10-Year Ban on Citigroup Global Markets Asia's Ex-Officer

  • The SFC fined CGMAL $348.25 million in January 2022.
  • The regulator found that most of the violations were due to the actions of the company's former manager.
Monday, 06/03/2023 | 09:37 GMT by Damian Chmiel
Executives

Stuart Staley to Replace Itay Tuchman as Citi’s Global Head of Forex

  • Tuchman has spent over two decades at the corporation.
  • Staley, Head of Markets & Securities Services, APAC, has spent over 18 years at the firm.
Monday, 22/08/2022 | 16:14 GMT by Solomon Oladipupo
Institutional FX

Citigroup’s Brokerage Subsidiary to Pay £12.6M for Failure to Detect Market Abuse

  • Citigroup Global Markets breached Article 16(2) of MAR, FCA's Principles for Businesses.
  • The institutional brokerage firm has agreed to resolve the case, the FCA says.
Friday, 19/08/2022 | 14:15 GMT by Solomon Oladipupo
Institutional FX

‘Flash Crash’-Linked Trading Team at Citigroup to Be Overhauled

  • The group is looking to name a new Head of Forward Trading.
  • Ali Omari was not involved in the event, and his departure was unrelated.
Tuesday, 10/05/2022 | 17:28 GMT by Felipe Erazo
Institutional FX

Citigroup’s Net Income Drops 46% YoY in Q1 2022

  • Revenues for the recent quarter came in at $19.2 billion.
  • EPS dipped by almost 44% compared to the same period last year.
Monday, 18/04/2022 | 05:31 GMT by Bilal Jafar
News

Citi Ventures Joins $44 Million Series B Funding Round of ChargeAfter

  • The company aims to increase the global BNPL financing network.
  • The investment round was led by The Phoenix.
Wednesday, 23/03/2022 | 07:03 GMT by Bilal Jafar
Institutional FX

Hong Kong SFC Fines Citigroup’s Asia Subsidiary $44.68 Million

  • The company was accused of multiple regulatory lapses.
  • The management of the company is likely to face disciplinary actions.
Friday, 28/01/2022 | 09:41 GMT by Arnab Shome
News

Citigroup to Add 100 Digital Asset Roles

  • The bank has already structured and appointed the head of its new digital asset push.
Tuesday, 23/11/2021 | 13:21 GMT by Arnab Shome
News

Citigroup Considers the Possibility of Offering Bitcoin Futures Trading

  • Although a spokesperson from Citi confirmed the rumors, there are no major details on the Bitcoin futures trading plans.
Tuesday, 24/08/2021 | 21:43 GMT by Felipe Erazo
Executive Moves

Nomura Has Secured Christopher Willcox as Its New CEO and President

  • Willcox intends to focus on developing the American side of the business to deliver a world-class service to its clients.
Monday, 26/04/2021 | 13:22 GMT by Tom Hazan
Regulation

FINRA Slaps $475,000 Fine on CitiGroup Global Markets

  • The authority fined CitiGroup for failing to disclose potential conflict of interest related to equity research reports.
Wednesday, 11/11/2020 | 09:23 GMT by Bilal Jafar
Executive Moves

BCS Global Markets Appoints Alexei Bolshakov as Global Head of Equities

  • Bolshakov will be based in Moscow and report to the co-CEO of the broker.
Tuesday, 22/09/2020 | 10:57 GMT by Celeste Skinner
News

Citi Sues Brigade Capital to Get Back $176 Million

  • The amount was a part of the mistakenly transferred $900 million.
Tuesday, 18/08/2020 | 11:19 GMT by Arnab Shome
Executive Moves

Amish Naik Moves from BNP Paribas to Google

  • He held senior FX sales roles at BNP Paribas and Citigroup earlier
Wednesday, 29/04/2020 | 16:17 GMT by Finance Magnates Staff
Market News

Goldman Sachs And Other Major Banks Suspend Share Buybacks Due to COVID-19

  • The pandemic presents an “unprecedented” challenge, the Financial Forum states
Monday, 16/03/2020 | 22:11 GMT by Finance Magnates Staff
Executive Moves

Loretta Ko Joins Citigroup as Head of Financial Institutions

  • She takes up her new Hong Kong-based role this month
Wednesday, 11/03/2020 | 16:31 GMT by Finance Magnates Staff
Executive Moves

Citigroup Appoints Co-Heads of Asia Equity Capital Markets

  • Ken Chow and Udhay Furtado have been appointed to the positions.
Friday, 15/11/2019 | 08:58 GMT by Celeste Skinner
Execution

Citi Scales Back Its Participation on Multi-Bank FX Platforms

  • A source said such platforms add little value, but a lot of cost, effort and energy spent on them.
Wednesday, 30/10/2019 | 18:36 GMT by Aziz Abdel-Qader
Prime Brokerage

Abysmal First Half Prompts More Banks to Cut Jobs

  • Citigroup is the latest prime broker to reduce the number of traders on its payroll, FX once again spared
Tuesday, 30/07/2019 | 12:23 GMT by Victor Golovtchenko
Executive Moves

HSBC US CEO to Retire, Citi's Michael Roberts to Take Place

  • Patrick Burke has spent three decades with HSBC.
Tuesday, 09/07/2019 | 11:53 GMT by Celeste Skinner
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