Paul Galant News
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Derivatives clearinghouses should standardize and report more information on risk management practices so bank members can assess the threats they face, according to a report sponsored by the Federal Reserve Bank of New York.
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On a good day, 27-year-old Bobby Timberlake at CME Group Inc. in Chicago rounds up $2.5 billion from the world’s biggest traders and banks such as JPMorgan Chase & Co. to cover their losses in the $639 trillion derivatives markets.
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William “Wild Bill” Janklow ’s law office in Sioux Falls, South Dakota, is crowded with mementos from his 16 years as a Republican governor. On a low, wooden bookcase, near bottles of hot sauce custom labeled for his annual Buffalo Roundup , he keeps a 4-foot length of red ribbon festooned with Citibank credit cards.
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After writing off a record $89 billion in 2009, U.S. credit card issuers are dumping risky customers and competing to sign up richer, more-stable payers.
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Citigroup Inc. , the third-largest U.S. bank by assets, said that Deborah Doyle McWhinney will leave her position as head of personal wealth management for a newly created role in the global transactions business.
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Citigroup Inc. hired Judson Linville from American Express Co. to head its U.S. credit-card unit after first-half loan losses in the business climbed almost 10-fold from a year earlier.
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Citigroup Inc ., the third-biggest U.S. lender, said data for about 210,000 credit-card accounts in North America were breached.
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Citigroup Inc. , the bank 18 percent owned by the U.S. government, said it hired Morgan Stanley ’s Cecelia “Cece” Stewart, a former Wachovia Corp. executive, as president of its North American retail bank.
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Citigroup Inc ., the third-biggest U.S. lender, took as long as three weeks to notify customers after data for about 210,000 credit-card accounts in North America were breached.
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Liza Landsman , Citigroup Inc. ’s U.S. head of online and mobile banking, is leaving the bank a year after being named to help transform its consumer business with new technologies, people with knowledge of the matter said.
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