Citigroup Inc., the biggest U.S. bank to have regulators reject its capital plan this year, dismantled a board committee created during the credit crisis to police the disposal of toxic and unwanted assets.
Foley & Lardner LLP announced that Tad Ferris joined as a partner and co-chairman of the firm’s Greater China regulatory practice in Washington. He was previously a principal on the China team at Holland & Knight LLP.
Citigroup Inc., the third-largest U.S. lender, said Manuel Medina-Mora will add responsibility for global consumer and commercial banking and Mike Corbat will become the sole chief executive officer for Europe, the Middle East and Africa as part of a management shakeup.
Citigroup Inc. is seeking to unwind more than $2.2 billion of collateralized loan obligations it set up for firms including a unit of Blackstone Group LP, according to people with knowledge of the deals.
Citigroup Inc. paid a hedge-fund manager with a doctorate in finance more than $200 million over five years to save the bank from the brink of collapse. Now it’s turning to a former Harvard football lineman to run it better.
Citigroup Inc. directors ousted Chief Executive Officer Vikram Pandit after concluding his mismanagement of operations caused setbacks with regulators and cost credibility with investors, a person with knowledge of the discussions said.