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109 stories mentioning CitigroupUpdated 9d ago

Citigroup launched tokenized depositary receipts for private-company shares, expanding its use of blockchain technology in private markets.

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Wire

Top Midday Stories: NextEra, Dominion to Combine in All-Stock Deal; Big Pharma Firms Denied Certiorari by Supreme Court in Medicare Pricing Case

The Dow Jones Industrial Average, Nasdaq Composite and S&P 500 Index were down in late-morning trading Monday, as Wall Street monitored oil prices and US Treasury yields amid the ongoing conflict in the Middle East.In company news, NextEra Energy (NEE) and Dominion Energy (D) said Monday they have entered into a definitive agreement to combine in an all-stock deal. Under the terms of the transaction, Dominion shareholders will receive a fixed exchange ratio of 0.8138 shares of NextEra for each Dominion share they own at the close of the deal, which is expected in the next 12 to 18 months. NextEra shareholders will own about 74.5% of the combined company, while Dominion shareholders will own the remaining 25.5%. NextEra shares were down 5.5% around midday, while Dominion shares were up 9.6%.The US Supreme Court on Monday denied writ of certiorari petitions by six big pharmaceutical companies seeking to challenge the legality of the Medicare Drug Price Negotiation Program under the Inflation Reduction Act of 2022. AstraZeneca (AZN), Novartis (NVS), Novo Nordisk (NVO), Johnson & Johnson's (JNJ) Janssen Pharmaceuticals, Bristol-Myers Squibb (BMY) and Boehringer Ingelheim Pharmaceuticals all had their petitions denied by the Supreme Court. Shares of AstraZeneca, Novartis, Johnson & Johnson and Bristol-Myers were up 1.1%, 0.8%, 0.4% and 0.5%, respectively, while Novo Nordisk was down 1%.Berkshire Hathaway (BRK.A, BRK.B) disclosed Friday in a regulatory filing that it sold all of its stake in UnitedHealth Group (UNH). Separately, a New York state court judge on Monday prohibited prosecutors from using some evidence found in the backpack of Luigi Mangione, who is standing trial for the murder of UnitedHealth Group's UnitedHealthcare CEO Brian Thompson, CNBC reported. UnitedHealth shares were down 1.5%, while Berkshire's class A and class B shares were up 0.2% and 0.1%, respectively.Citigroup (C) and BlackRock's (BLK) HPS Investment Partners are launching a 15 billion euro ($17.48 billion) private capital program to expand access to private financing for corporate and sponsor-owned borrowers in the Europe, the Middle East and Africa region, the companies said Monday. Citigroup shares were down 0.2%, while BlackRock shares were up 0.5%.Price: $88.24, Change: $-5.13, Percent Change: -5.49%

$AZN$BLK$BMY$BRK.A$BRK.B$C$D$JNJ$NEE$NVO$NVS$UNH
Wire

BofA Securities Lifts Citigroup Price Target to $170 From $150, Maintains Buy Rating

Citigroup (C) has an average rating of Buy and mean price target of $146.21, according to analysts polled by FactSet.Price: $128.87, Change: $-0.22, Percent Change: -0.17%

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Wire

Update: Market Chatter: Nvidia, Apple, Exxon CEOs to Be Invited on Trump's China Trip

(Updates to add a response from the White House in the third paragraph.)The Trump administration plans to invite CEOs from Nvidia (NVDA), Apple (AAPL), Exxon Mobil (XOM), and Boeing (BA) to accompany the president on his trip to China next week, Semafor reported Thursday, citing a person familiar with the matter.The list also includes executives from Qualcomm (QCOM), Blackstone (BX), Citigroup (C), and Visa (V), and it may expand in the coming days, the report said.A spokesperson for the White House toldin an emailed response that until an official list is released, reports about which CEOs have been invited should be regarded as speculation.The companies did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $214.66, Change: $+3.16, Percent Change: +1.49%

$AAPL$BA$BX$C$NVDA$QCOM$V$XOM
Sectors

Sector Update: Financial Stocks Fall Late Afternoon

Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index down 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.6%.The Philadelphia Housing Index dropped 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 0.7%.Bitcoin (BTC-USD) fell 1.8% to $79,934, and the yield for 10-year US Treasuries rose 3.6 basis points to 4.39%.In economic news, employers in the US announced 83,387 job cuts in April, up from 60,620 in March, Challenger, Gray & Christmas said Thursday.US consumer credit use jumped by $24.8 billion in March, compared with a $13.5 billion increase expected in a survey compiled by Bloomberg and following an $8.9 billion increase in the previous month.In corporate news, KKR (KKR) shares decreased 0.8% after Argus lowered the company's price target to $115 from $120.Blackstone (BX) and I Squared are considering making a bid for Stroeer that may value the German media group at 2.5 billion euros ($2.94 billion), Bloomberg reported. Blackstone shares were down 2%.Citigroup (C) Chief Executive Jane Fraser said Thursday at the bank's Investor Day that Citi expects its return on tangible common equity to hit a range of 11% to 13% in 2027 and 2028, up from 10% to 11% currently, before rising further to 14% to 15% from 2029 to 2031, according to a slide deck the company published. Citi shares rose 1.8%.JPMorgan Chase (JPM) and Citigroup were sued by China's HY Energy over alleged failure of funds transfer, Bloomberg reported. JPMorgan shares fell 2.6%.

$BX$C$JPM$KKR
Sectors

Sector Update: Financial Stocks Fall Thursday Afternoon

Financial stocks fell in Thursday afternoon trading with the NYSE Financial Index down 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding around 0.7%.The Philadelphia Housing Index dropped 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 1%.Bitcoin (BTC-USD) fell 2% to $79,831, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.378%.In economic news, employers in the US announced 83,387 job cuts in April, up from 60,620 in March, Challenger, Gray & Christmas said Thursday.In corporate news, Blackstone (BX) and I Squared are considering making a bid for Stroeer that may value the German media group at 2.5 billion euros ($2.94 billion), Bloomberg reported. Blackstone shares were down 2%.Citigroup (C) Chief Executive Jane Fraser said Thursday at the bank's Investor Day that Citi expects its return on tangible common equity to hit a range of 11% to 13% in 2027 and 2028, up from 10% to 11% currently, before rising further to 14% to 15% from 2029 to 2031, according to a slide deck the company published. Citi shares rose 1.5%.JPMorgan Chase (JPM) and Citigroup (C) were sued by China's HY Energy over alleged failure of funds transfer, Bloomberg reported. JPMorgan shares fell 2.3%.

$BX$C$JPM
Sectors

Sector Update: Financial

Financial stocks fell in Thursday afternoon trading with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding 0.5%.The Philadelphia Housing Index dropped 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 0.5%.Bitcoin (BTC-USD) fell 2% to $79,831, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.378%.In corporate news, JPMorgan Chase (JPM) and Citigroup (C) were sued by China's HY Energy over alleged failure of funds transfer, Bloomberg reported. JPMorgan shares fell 2%, and Citi rose 1.8%.

$C$JPM
Wire

Market Chatter: Nvidia, Apple, Exxon CEOs to Be Invited on Trump's China Trip

The Trump administration plans to invite CEOs from Nvidia (NVDA), Apple (AAPL), Exxon Mobil (XOM), and Boeing (BA) to accompany the president on his trip to China next week, Semafor reported Thursday, citing a person familiar with the matter.The list also includes executives from Qualcomm (QCOM), Blackstone (BX), Citigroup (C), and Visa (V), and it may expand in the coming days, the report said.The White House and the companies did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $212.95, Change: $+5.29, Percent Change: +2.54%

$AAPL$BA$BX$C$NVDA$QCOM$V$XOM
Wire

Street Color: Trump Administration Plans to Invite Firms' CEOs on China Trip, Semafor Reports

Street Color: Trump Administration Plans to Invite Firms' CEOs on China Trip, Semafor Reports

$AAPL$BA$BX$C$NVDA$QCOM$V$XOM
Wire

Top Midday Stories: Citi CEO Fraser Gives New ROTCE Targets; Datadog Shares Soar After Strong Earnings, Bullish Guidance

The Dow Jones Industrial Average was down, while the S&P 500 Index and the Nasdaq Composite were up in late-morning trading Thursday, as oil prices fell below $100 on hopes that the US and Iran are nearing an agreement to end their war.In company news, Citigroup (C) Chief Executive Jane Fraser said Thursday at the bank's Investor Day that Citi expects its return on tangible common equity to hit a range of 11% to 13% in 2027 and 2028, up from 10% to 11% currently, before rising further to 14% to 15% from 2029 to 2031, according to a slide deck the company published. Citigroup shares were up 2.1% around midday.Datadog (DDOG) reported Q1 non-GAAP net income Thursday of $0.60 per diluted share, up from $0.46 a year earlier and above the FactSet consensus of $0.51. First-quarter revenue was $1.01 billion, up from $761.6 million a year ago and above the FactSet consensus of $960.1 million. For Q2, the company said it expects non-GAAP EPS of $0.57 to $0.59 on revenue of $1.07 billion to $1.08 billion. Analysts polled by FactSet expect $0.50 and $994 million, respectively. For full-year 2026, Datadog said it expects non-GAAP EPS of $2.36 to $2.44 on revenue of $4.30 billion to $4.34 billion, up from the previous guidance ranges of $2.08 to $2.16, and $4.06 billion to $4.12 billion, respectively. Analysts polled by FactSet expect earnings of $2.16. Datadog shares were up 29.6%.McDonald's (MCD) reported Q1 adjusted earnings Thursday of $2.83 per diluted share, up from $2.67 a year earlier and above the FactSet consensus of $2.74. First-quarter revenue was $6.52 billion, up from $5.96 billion a year ago and above the FactSet consensus of $6.47 billion. McDonald's shares were down 0.4%.Zoetis (ZTS) reported Q1 adjusted earnings Thursday of $1.53 per diluted share, up from $1.41 a year earlier but below the FactSet consensus of $1.60. First-quarter revenue was $2.26 billion, up from $2.20 billion a year ago but below the FactSet consensus of $2.30 billion. For full-year 2026, the company said it expects adjusted EPS of $6.85 to $7.00, down from its previous guidance of $7.00 to $7.10 and below the FactSet consensus of $7.03. The company also lowered its full-year 2026 revenue guidance to $9.68 billion to $9.96 billion from $9.83 billion to $10.03 billion previously. Analysts polled by FactSet expect $9.89 billion. Zoetis shares were down 22%.Arm (ARM) reported fiscal Q4 adjusted earnings late Wednesday of $0.60 per diluted share, up from $0.55 a year earlier and above the FactSet consensus of $0.58. Fiscal Q4 revenue was $1.49 billion, up from $1.24 billion a year ago and above the FactSet consensus of $1.47 billion. For fiscal Q1, the company said it expects adjusted EPS of $0.40, plus or minus $0.04, on revenue of $1.26 billion, plus or minus $50 million. Analysts polled by FactSet expect $0.37 and $1.25 billion, respectively. Arm shares were down 8.4%.Whirlpool (WHR) reported a Q1 adjusted loss late Wednesday of $0.56 per diluted share, swinging from adjusted earnings of $1.70 a year earlier and compared with the FactSet consensus of earnings of $0.38. First-quarter revenue was $3.27 billion, down from $3.62 billion a year ago and below the FactSet consensus of $3.44 billion. For fiscal 2026, the company said it expects adjusted EPS of $3 to $3.50, down from its previous guidance of $7 and below the FactSet consensus of $4.83. Full-year revenue is expected to be about $15 billion, down from its prior guidance of $15.30 billion to $15.60 billion and below the FactSet consensus of $15.26 billion. The company said the war in Iran has triggered a "recession-level industry decline in the US." Whirlpool shares were down 12.3%.Shake Shack (SHAK) reported breakeven fiscal Q1 adjusted earnings Thursday, compared with $0.14 per diluted share a year earlier and below the FactSet consensus of $0.12. Fiscal Q1 revenue was $366.7 million, up from $320.9 million a year ago but below the FactSet consensus of $372.4 million. Shake Shack also said it has appointed Michelle Hook as chief financial officer, effective May 11. Shares of the company were down 28.6%.Price: $130.33, Change: $+2.72, Percent Change: +2.14%

$ARM$C$DDOG$MCD$SHAK$WHR$ZTS
Wire

Citigroup Should Aim for Return on Tangible Common Equity of 14% to 15% in Medium Term, UBS Says

Citigroup's (C) medium-term target for return on tangible common equity should be between 14% and 15%, based on investor feedback, UBS said in a Wednesday note.Further, investors are expecting an aspirational long-term target of over 15%, especially when the company is compared with its peers, UBS said. Compared with sell-side consensus of 12.8%, taken from only six analyst estimates, the brokerage considers the expectations of buy-side investors as "more critical."In order to boost its return on tangible common equity, Citigroup should reduce its Common Equity Tier 1, which sits at 12.7%, 110 basis points above the regulatory minimum. UBS notes that peers such as Bank of America (BAC) and Goldman Sachs Group (GS) have a buffer range of 50 basis points at the low end.Global Systemically Important Bank recalibration is expected to lower Citigroup's surcharge to 3%. Assuming this, a stress capital buffer range of 2.5% to 3%, and a 50 basis-point management buffer, the company's 2028 consensus net income would imply a return on tangible common equity of 13.1% to 14.4%, according to the note.UBS's rating on the company's stock is neutral with a price target of $134.Price: $128.25, Change: $+0.24, Percent Change: +0.19%

$BAC$C$GS
Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks advanced in late Tuesday afternoon trading with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.2%.The Philadelphia Housing Index gained 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.3%.Bitcoin (BTC-USD) rose 2.1% to $81,532, and the yield for 10-year US Treasuries shed 3 basis points to 4.416%.In economic news, two surveys painted a mixed picture of the US services sector in April, with Institute for Supply Management data showing a deceleration in growth and an S&P Global (SPGI) report indicating a return to expansion.The US trade deficit grew in March as imports outpaced record-high exports, government data showed. The goods and services deficit widened 4.4% sequentially to $60.31 billion on a seasonally adjusted basis. The consensus was for a deficit of $61 billion in a Bloomberg survey.In sector news, the US Securities and Exchange Commission proposed rule and form amendments that would permit public companies to file semiannual reports in lieu of quarterly reports.In corporate news, Citigroup (C) plans to introduce new medium-term profitability targets at its investor day on Thursday, Reuters reported, citing an interview with CEO Jane Fraser. Citi shares rose 2.1%.PayPal (PYPL) plans to target at least $1.5 billion in cost cuts over the next few years, while the company maintained its full-year earnings outlook. The shares slumped 8%.Coinbase (COIN) is reducing its global workforce by 14%, citing the need to cut costs amid market volatility and the ways AI has optimized its operations. The shares fell 2.8%.Bullish (BLSH) shares jumped 11%. The company agreed to acquire transfer agent Equiniti for $4.2 billion in stock from private-equity firm Siris.

$BLSH$C$COIN$PYPL
Sectors

Sector Update: Financial

Financial stocks advanced in late Tuesday afternoon trading with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.3%.The Philadelphia Housing Index gained 2.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.3%.Bitcoin (BTC-USD) rose 2.1% to $81,532, and the yield for 10-year US Treasuries shed 3 basis points to 4.416%.In corporate news, Citigroup (C) plans to introduce new medium-term profitability targets at its upcoming investor day on Thursday, Reuters reported, citing an interview with CEO Jane Fraser. Citi shares rose 1.9%.

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Wire

Market Chatter: Citigroup Plans to Introduce New Medium-Term Profitability Targets at Upcoming Investor Day

Citigroup (C) plans to introduce new medium-term profitability targets at its upcoming investor day on Thursday, Reuters reported Tuesday, citing an interview with chief executive officer Jane Fraser.The bank will also highlight improvements in expenses and revenue from its multi-year reorganization, the news outlet said, adding that Citigroup is also betting on artificial intelligence to aid growth in its wealth business.Fraser told that the company will be laying out new return targets and the growth path for each of the businesses, and that the bank plans to raise the bar beyond its 2026 goals, according to the report.Citigroup did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) withPrice: $127.94, Change: $+2.31, Percent Change: +1.84%

$C
Wire

Market Chatter: SoftBank-Backed Opay Taps Citi, Deutsche, JPMorgan for US IPO

Opay Digital Services has hired Citigroup (C), Deutsche Bank (DB), and JPMorgan (JPM) as the Nigerian payments platform prepares for an initial public offering in the US, Bloomberg reported Friday, citing people familiar with the matter.The SoftBank-backed company is seeking a valuation of $4 billion in its debut and may sell the shares later this year, the people reportedly said.Citigroup declined to comment to. Deutsche and JPMorgan did not immediately respond, while Opay was unreachable.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $127.59, Change: $-0.39, Percent Change: -0.30%

$C$DB$JPM
Wire

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher late Thursday afternoon, with the NYSE Financial Index rising 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.The Philadelphia Housing Index climbed 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.5%.Bitcoin (BTC-USD) rose 0.9% to $76,409, and the yield for 10-year US Treasuries decreased 2.8 basis points to 4.39%.In economic news, the core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, rose to 3.2% year-on-year in March from 3%, meeting expectations. It climbed 0.3% month-over-month, down from the 0.4% reported in February.US economic growth, measured by gross domestic product, rose by 2.0% in Q1 after a 0.5% gain in Q4, slower than a 2.3% increase expected in a survey compiled by Bloomberg.US initial jobless claims fell to 189,000 in the week ended April 25 from an upwardly revised 215,000 in the previous week, against expectations for a rise to 212,000 in a Bloomberg survey.In corporate news, Citigroup (C) is stepping back from physical trading in industrial metals and has notified a number of staff from the commodities team about potential redundancies, Bloomberg reported. Citi shares were up 0.2%.KKR (KKR) is considering selling the Flora Food Group spreads business, seeking to strike a deal at a valuation of up to $10 billion, the Financial Times reported. KKR shares climbed 4.8%.Mastercard's (MA) Q1 results outpaced Wall Street's estimates, but the company said that the Middle East conflict was impacting spending on cross-border travel. Its shares fell nearly 4%.AvalonBay Communities (AVB) and Equity Residential (EQR) have held discussions over a potential merger, which would be one of the biggest real estate deals ever, Bloomberg reported. AvalonBay shares were down 1.1%, and Equity Residential was fractionally lower.

$AVB$C$EQR$KKR$MA
Wire

Market Chatter: Citigroup Pares Back Physical Trading in Industrial Metals

Citigroup (C) is stepping back from physical trading in industrial metals and has notified a number of staff from the commodities team about potential redundancies, Bloomberg reported Thursday, citing an employment tribunal in London.Citi said in a January letter that physical metals trading will no longer be a "core business activity," as the bank warned about 11 employees that they were at risk of redundancy and has let go a number of them since then, according to the report.Citi did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $128.19, Change: $+0.58, Percent Change: +0.45%

$C
Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index increasing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.8%.The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.8%.Bitcoin (BTC-USD) was falling 2.6% to $76,605, and the yield for 10-year US Treasuries was rising 2.6 basis points to 4.336%.In economic news, the Dallas Fed's monthly manufacturing index fell to minus 2.3 in April from minus 0.2 in March, compared with expectations for a 0.8 print. The index indicates faster contraction, in contrast with other regional manufacturing readings already released.In corporate news, First Bancorp (FBP) shares gained 3.6% in Monday trading after Raymond James upgraded the company's stock to strong buy from outperform and raised its price target to $27 from $26.Investors in a Blue Owl Capital (OWL) business development company tendered less than 1% of shares to Boaz Weinstein's Saba Capital Management and Cox Capital Partners, which had offered to buy them out at a significant discount, Bloomberg reported. Blue Owl Capital shares were down 2.3%.Citigroup (C) plans to strengthen its investment banking divisions in Japan and China by recruiting upper-level executives to capture additional buyout opportunities, Reuters reported, citing the firm's regional division head, Kaustubh Kulkarni. Citi shares added 1%.Oppenheimer (OPY) shares climbed 4.9% after the company said its Oppenheimer & Co. unit agreed to pay $70 million to settle a class-action lawsuit tied to its cash sweep program, avoiding a trial where damages could have exceeded $440 million.

$C$FBP$OPY$OWL
Wire

Sector Update: Financial Stocks Rise Monday Afternoon

Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index increasing 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.6%.Bitcoin (BTC-USD) was falling 2.4% to $76,783, and the yield for 10-year US Treasuries was rising 3.2 basis points to 4.34%.In corporate news, Citigroup (C) plans to strengthen its investment banking divisions in Japan and China by recruiting upper-level executives to capture additional buyout opportunities, Reuters reported, citing the firm's regional division head, Kaustubh Kulkarni. Citi shares added 0.4%.Goldman Sachs' (GS) Goldman Sachs Alternatives participated as the lead investor in Kashable's $60 million Series C funding round, Kashable said Monday. Goldman Sachs Alternatives participated with up to $50 million, which includes an initial $25 million investment and $25 million to be funded in coming months, subject to conditions, Kashable said. Goldman shares added 0.6%.Oppenheimer (OPY) shares rose 4% after the company said its Oppenheimer & Co. unit agreed to pay $70 million to settle a class-action lawsuit tied to its cash sweep program, avoiding a trial where damages could have exceeded $440 million.

$C$GS$OPY
Sectors

Sector Update: Financial

Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index increasing 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.6%.Bitcoin (BTC-USD) was falling 2.4% to $76,783, and the yield for 10-year US Treasuries was rising 3.2 basis points to 4.34%.In corporate news, Citigroup (C) plans to strengthen its investment banking divisions in Japan and China by recruiting upper-level executives to capture additional buyout opportunities, Reuters reported, citing the firm's regional division head, Kaustubh Kulkarni. Citi shares added 0.3%.

$C
Wire

Market Chatter: Citigroup Plans Senior Hires for Japan, China Investment Banking Teams

Citigroup (C) plans to strengthen its investment banking divisions in Japan and China by recruiting upper-level executives to capture additional buyout opportunities, Reuters reported Monday, citing the firm's regional division head, Kaustubh Kulkarni.Management intends to recruit experienced professionals in Japan to cover specific industries like technology and telecommunications to address increased corporate appetite for strategic restructuring, the report said.The company is simultaneously seeking personnel in China to focus on bringing in investment bankers who can cover "new-age" and "high-growth companies", Reuters quoted the executive as saying.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $127.88, Change: $-0.10, Percent Change: -0.08%

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