Citigroup to Sell Japan Retail Business to Sumitomo Mitsui
According to a Zacks Equity Research report, Citigroup has agreed to sell its Japanese retail banking operation to Sumitomo Mitsui Banking Corporation.
According to a Zacks Equity Research report, Citigroup has agreed to sell its Japanese retail banking operation to Sumitomo Mitsui Banking Corporation.
The Wall Street Journal reported Enron Creditors Recovery, Enron’s successor corporation, reached a $1.66 billion settlement with Citigroup over the bank’s alleged role in Enron’s 2001 collapse.
XPO Logistics said it agreed to acquire New Breed. The acquisition will be supported by term loan commitments from Credit Suisse, Morgan Stanley Senior Funding, Citigroup and Deutsche Bank for up to $645 million.
Citigroup reported Q2/14 net income of $181 million compared to net income of $4.2 billion a year earlier. Citi noted the Q2 results included the impact of a $3.7 billion after-tax charge to settle RMBS and CDO-related claims.
Amalgamated Bank announced Mark Minter has been named chief credit risk officer. Minter has more than four decades of experience in finance, including executive-level risk positions at RBS Citizens Financial Group and Citigroup.
Bloomberg reported that the head of distressed debt at Citigroup is leaving to join hedge fund Silver Point Capital.
Bloomberg reported that global commodity trader Glencore Xstrata refinanced its credit lines with $15.3 billion of syndicated loans arranged by BNP Paribas, Citigroup, ING and UniCredit.
Paul Hastings announced it advised Piper Jaffray and Citigroup, as joint book-running managers on the follow-on public offering of voxeljet AG.
Ally Financial announced it launched an IPO of shares of its common stock. The shares will be offered by the U.S. Department of the Treasury as part of its planned exit of its investment in Ally.
Bloomberg reported Citigroup’s capital plan was one of five that failed the Federal Reserve stress test. Bloomberg said the U.S. units of Royal Bank of Scotland, HSBC and Santander, along with Citigroup, failed due to “concern about the quality of their processes,” citing a Fed statement.