TITLE

Citi Outlines Cuts

AUTHOR(S)
Bizouati, Yaƫl
PUB. DATE
April 2007
SOURCE
Investment Dealers' Digest;4/16/2007, Vol. 73 Issue 15, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the confirmation of Citigroup for its 5% manpower to a lower cost location both domestically and internationally. According to Charles Prince, chief executive officer (CEO) of Citigroup, that the company expected to generate the total expense savings of about $2.1 billion in 2007. The changes also includes eliminating layers of management; consolidating certain back-office, middle-office and corporate functions.
ACCESSION #
24774504

 

Related Articles

  • WEEK IN REVIEW.  // Crain's New York Business;10/15/2007, Vol. 23 Issue 42, p16 

    The article offers news briefs related to business enterprises located in New York City area. CitiGroup Inc.'s chief executive officer (CEO) Charles Prince will combine the investment banking and alternative investments units into one division. Cipriani USA CEO Giuseppe Cipriani was sentenced to...

  • Citigroup swaps subsidiary.  // Hudson Valley Business Journal;7/11/2005, Vol. 16 Issue 14, p5 

    This article reports that Citigroup Inc. has signed a definitive agreement under which it will sell substantially all of its Asset Management business in exchange for the broker-dealer business of Legg Mason Inc. Charles Prince, chief executive officer of Citigroup said that they have been...

  • Amid Word of Meeting, Rumblings on Citi, Prince. Rieker, Matthias // American Banker;11/5/2007, Vol. 172 Issue 213, p23 

    This article reports that Citigroup Inc.'s chief executive Charles O. Prince is in danger of losing his job. Consistent support from Citi's board has tended to tamp down the effect of agitation from certain corners of Wall Street and from other outsiders for new leadership. But recently the...

  • With Executive Changes, New Strategy in Wealth Line. Mazzucca, Tim // American Banker;1/23/2007, Vol. 172 Issue 15, p1 

    The article looks at executive changes at Citigroup Inc. According to the article, Charles O. Prince, Citigroup's chairman and chief executive, views Sallie L. Krawcheck's promotion to become the chairman and CEO of its global wealth management business as a key step in the company's plan to...

  • Citigroup under pressure to raise value or split. Elstein, Aaron // Crain's New York Business;1/29/2007, Vol. 23 Issue 5, p4 

    The article presents information on Citigroup Inc. being under pressure to raise its value. Shareholders are losing patience with the company. Charles Prince, chief executive of the company, has repeatedly demonstrated his inability to harness the power of a conglomerate. The company has also...

  • Citi's Shame. Mokhiber, Russell // Multinational Monitor;Nov2004, Vol. 25 Issue 11, p28 

    Reports on the apology made by Charles Prince, CEO of Citigroup, to the Japanese public for the misdeeds of his company that led Japanese enforcement officials to close down one of the Citigroup operating offices as of November 2004. Specialization of Cititrust & Banking Corp.; Explanation made...

  • Citi Shakeup: Strategic Or Reaction to Markets? Rieker, Matthias // American Banker;10/15/2007, Vol. 172 Issue 198, p2 

    The article examines the corporate reorganization of Citigroup, the largest bank in the U.S. Citigroup combined several different units into an institutional client group headed by Vikram Pandit, and dismissed several of the executives in charge of some of the merged units. Analysts differed as...

  • Activist Buyers Raising Citi Stakes.  // American Banker;6/18/2007, Vol. 172 Issue 116, p8 

    The article reports on the potential for Citigroup Inc. to be broken into smaller companies, which may be worth more in total than the company is now. Citi's chief executive Charles Prince has rejected calls to separate parts of the company. However, Edward Lampert of the hedge fund ESL...

  • Strategy and Tactics: The Book on a New Citi. Davenport, Todd // American Banker;8/26/2005, Vol. 170 Issue 165, p1 

    Focuses on Citigroup Inc. Impact of changes on the company as a business; Role of chief executive officer Charles O. Prince in restoring the reputation of the nation's largest bank; Prince's focus on growth, particularly in the retail bank; Comments of Prince; Personnel and operational changes;...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics