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Citigroup’s Chief Executive Resigns

Posted October 16th, 2012 at 11:55 am (UTC-5)
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The chief executive of Citigroup, one of the world’s largest financial institutions, has unexpectedly resigned. Vikram Pandit, who led the New York-based bank for the past five years, stepped down a day after Citigroup reported stronger-than-expected profits for the July-to-September period. Citigroup named Michael Corbat, who has overseen the bank’s operations in Europe, the Middle […]

Tags: , , Posted in Economy

Hong Kong Regulators Fine Citigroup

Posted October 3rd, 2011 at 10:05 am (UTC-5)
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Hong Kong regulators have fined Citigroup $770,000 for failing to promptly report a Ponzi scheme run by an employee under “the nose” of company officials. The Securities and Futures Commission said a former licensed representative of the bank was responsible for a fraudulent scheme involving 13 clients. The employee was fired, and the company says […]

Tags: , , Posted in Economy

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