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Citi trader made error behind flash crash in Europe stocks

May 03, 2022 5:49 pm

A trader at the U.S. firm made a mistake “inputting a transaction,” Citigroup said late last night, after a knee-jerk selloff in Swedish stocks in five minutes wreaked havoc in bourses from Paris to Warsaw, wiping out 300 billion euros ($315 billion) at one point. The bank said it identified the error “within minutes” and corrected it.

Citigroup to exit 13 retail banking markets, including India and China

Citigroup to sell off consumer business in India

April 20, 2021 8:10 am

Citibank India has now put on sale its retail banking business that includes advances totalling Rs 66,507 crore and deposits worth Rs 1,57,869 crore.

Citigroup taps Jane Fraser to succeed Corbat; first woman to head a Wall Street bank

September 10, 2020 10:50 pm

Jane Fraser is currently head of Citi's global consumer banking division, a major part of the bank that includes checking and savings accounts but also Citi's massive credit card business.

Citigroup cites $900 million human error; lenders are puzzled

August 26, 2020 11:56 am

Citigroup has sued roughly a dozen firms seeking to recover the funds and secured court orders last week freezing an amount totaling more than half of what was accidentally sent pending the results of its lawsuits.

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Citi’s $900 million ‘clerical error’ is worst Wall Street bungle in a long time

August 16, 2020 10:19 pm

The wayward transfer of nearly a billion dollars appears to be one of the biggest screw-ups on Wall Street in ages, and it’s set tongues wagging in financial markets. The question everyone is asking: how could this happen?

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Citigroup names Peter Babej as Asia Pacific chief executive

October 17, 2019 9:48 am

Babej joined Citi in 2010 as co-head of the financial institutions group after having previously worked at Deutsche Bank and investment bank Lazard, according to the memo sent to staff by Citi global CEO Mike Corbat.

Citi lists Netflix, Tesla as potential takeover targets for Apple

May 06, 2017 2:10 pm

Citigroup listed seven companies as potential takeover targets for Apple Inc as a way to put its cash hoard of more than $250 billion to work.

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Nintendo to release mini-size Switch in 2019, predicts Citigroup

April 14, 2017 3:05 pm

Citigroup Inc predicts that more variations of the Nintendo Switch could be released as Nintendo Co. continues to refine its home and portable business strategy.

Citigroup to sell retail banking business in Japan to SMBC

December 26, 2014 2:00 am

Citibank Japan has about 740,000 retail customers and ¥2.44 trillion ($20 billion) in deposits, according to a joint statement.

Regulators fine global banks $4.3 bn in forex probe

November 13, 2014 1:32 am

The US Office of the Comptroller of the Currency, which regulates banks, also fined the US lenders $950 million and was the only authority to penalise Bank of America.