Stephen Bird News
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Citigroup Inc.’s Asian operations raised more than $50 billion for clients from capital markets last quarter, according to a memo obtained by Bloomberg News.
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Citigroup Inc. plans to almost triple its workforce in China to as many as 12,000 people in the next three years, intensifying its rivalry with HSBC Holdings Plc in the world’s fastest-growing major economy.
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Citigroup Inc. can generate enough capital from its Asian business to fuel expansion in China without selling shares in the country, according to the company’s top executive in the region.
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Citigroup Inc. aims to triple the size of its branch network in China to about 100 outlets within three years as the U.S. bank vies with HSBC Holdings Plc for a bigger slice of the nation’s banking market.
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Vikram Pandit , who steered Citigroup Inc. through a $45 billion government bailout, has staked his bank’s future on emerging markets -- just as investors are pulling back.
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Citigroup Inc. plans to almost triple its workforce in China to as many as 12,000 people in the next three years, intensifying its rivalry with HSBC Holdings Plc in the world’s fastest-growing major economy.
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Citigroup Inc., the third-largest U.S. bank by assets, started an investment banking joint venture in China that will give it access to the world’s second-biggest market for share sales.
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Citigroup Inc. will move its co- chief executive officer for the Asia-Pacific region, Shirish Apte , to Singapore from Hong Kong to oversee operations in South Asia.
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Citigroup Inc. and U.S. banks that hunkered down following 2008 bailouts are expanding into new businesses and markets, bringing higher expenses that may erode profit margins before they yield shareholder returns.
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Asian companies seeking to expand internationally may propel modest gains in mergers and acquisitions next year, extending the recovery that began in 2010, a Bloomberg survey showed.
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