Citigroup strips COO of responsibility after $136mn fine
WEB5 days ago · Citigroup is shifting responsibility for a key piece of its compliance work and around 800 employees from chief operating officer Anand Selva, after the bank was fined $136mn by regulators this ...
A year after reorg, progress at Citi comes in ‘fits and starts’
WEBSep 12, 2024 · Citi is working to “swiftly” incorporate regulator input amid the bank’s effort to put its data, risk and control issues behind it, CFO Mark Mason said this week, as the lender chases growth one year after launching a major reorganization.. New penalties totaling $135.6 million from the Federal Reserve and the Office of the Comptroller of the Currency provided “feedback” on the New ...
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US regulators fine Citi $136 million for failing to fix longstanding ...
WEBJul 11, 2024 · WASHINGTON, July 10 (Reuters) - U.S. bank regulators fined Citigroup (C.N) $136 million for making "insufficient progress" fixing data management issues identified in 2020 and required the bank...
Citi Statement on Final Phase of Organizational ... - Citigroup
WEBMar 25, 2024 · Citi Statement on Final Phase of Organizational Simplification Changes. March 25, 2024. NEW YORK - "Today we shared with our colleagues that we have concluded the major actions that we announced in September 2023 that align Citi’s structure with our simplified operating model.
Citi taps tech chief Ryan to fix data management issues alongside …
WEB5 days ago · C. (Reuters) - Citigroup has tasked technology head Tim Ryan to work alongside Chief Operating Officer Anand Selva in fixing the bank's longstanding data management issues, according to a memo ...
Citi Statement on Next Phase of Organizational Changes - Citigroup
WEBNovember 20, 2023. NEW YORK - “Today we shared with our colleagues the next layer of changes across many of our businesses and functions as we continue to align Citi’s organizational structure with our new, simplified operating model.
How Citi’s error-riddled loan reports led to a $136mn fine
WEBJul 25, 2024 · Citigroup inaccurately reported to regulators the details of tens of billions of dollars of loans, errors that could complicate its ability to fund dividends and buybacks.
Citigroup CEO sets sweeping management changes, job cuts
WEBSep 14, 2023 · NEW YORK, Sept 13 (Reuters) - Citigroup (C.N) will strip out a layer of management and cut jobs in a sweeping reorganization that will give CEO Jane Fraser more direct control as she seeks to...
Exclusive: Citi hit by new Fed rebuke, setbacks on consent orders
WEBFeb 12, 2024 · Citi’s two consent orders lay out several major issues that the bank needs to resolve, with work further broken down into smaller steps.
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