Citigroup Board Faces Angry Shareholders
April 22, 2009
Citigroup’s annual meeting opened with a long line of cantankerous shareholders, chiding Citigroup for crippling losses and the board failing to shield the company from the credit crisis and recession.
April 22, 2009
Citigroup’s annual meeting opened with a long line of cantankerous shareholders, chiding Citigroup for crippling losses and the board failing to shield the company from the credit crisis and recession.
CalPERS to Buy TARP Holdings, Citi Assets
April 15, 2009
The California Public Employees’ Retirement System said its seeking to buy assets of Citigroup and other financial companies tied to the U.S. government’s $700 billion Troubled Asset Relief Program.
April 15, 2009
The California Public Employees’ Retirement System said its seeking to buy assets of Citigroup and other financial companies tied to the U.S. government’s $700 billion Troubled Asset Relief Program.
RiskMetrics Opposes Citigroup’s Directors
April 10, 2009
Citigroup investors should vote against re-electing four of 14 board members, including John Deutch and Michael Armstrong, to improve management of the company’s risks.
April 10, 2009
Citigroup investors should vote against re-electing four of 14 board members, including John Deutch and Michael Armstrong, to improve management of the company’s risks.
Postings: Did Feds Force a Revamp of Citi Board?
April 1, 2009 by Gretchen Michals
Word is that the federal government is behind recent changes to the Citigroup board of directors. Analysts await to see how this unprecedented situation will play out in the boardroom.
April 1, 2009 by Gretchen Michals
Word is that the federal government is behind recent changes to the Citigroup board of directors. Analysts await to see how this unprecedented situation will play out in the boardroom.
Getting the House in Order
April 1, 2009 by Neil Baron
Boards must be careful not to undertake the responsibilities of management. Nevertheless, given the well-publicized mistakes made with respect to MBS, boards will want to subject management at financial-services companies to higher scrutiny and oversight regarding their involvement with these and other exotic securities. To do so, they first will need to determine whether there is sufficient expertise on the board; if not, they will need to acquire it.
April 1, 2009 by Neil Baron
Boards must be careful not to undertake the responsibilities of management. Nevertheless, given the well-publicized mistakes made with respect to MBS, boards will want to subject management at financial-services companies to higher scrutiny and oversight regarding their involvement with these and other exotic securities. To do so, they first will need to determine whether there is sufficient expertise on the board; if not, they will need to acquire it.
The First State in Corporate Law
April 1, 2009 by Maureen Milford
With little fanfare, Delaware’s famed Court of Chancery dismissed a claim by Citigroup shareholders against current and former directors and officers that they had breached their fiduciary duty by failing to properly monitor and disclose risks arising from problems in the subprime lending market that resulted in massive losses.
April 1, 2009 by Maureen Milford
With little fanfare, Delaware’s famed Court of Chancery dismissed a claim by Citigroup shareholders against current and former directors and officers that they had breached their fiduciary duty by failing to properly monitor and disclose risks arising from problems in the subprime lending market that resulted in massive losses.
Need to Know: April/May 2009
April 1, 2009 by Django Gold
More shareholder proposals are making it onto the proxy this season than last, even though fewer have been filed?
April 1, 2009 by Django Gold
More shareholder proposals are making it onto the proxy this season than last, even though fewer have been filed?
Global M&A Down 33 Percent
March 27, 2009 by Joseph McCafferty
Global mergers and acquisitions fell by a third in the first quarter to $444 billion, as the economic crisis deterred deal making.
March 27, 2009 by Joseph McCafferty
Global mergers and acquisitions fell by a third in the first quarter to $444 billion, as the economic crisis deterred deal making.
Goldman Aims for Quick TARP Repayment
March 25, 2009 by Joseph McCafferty
Holding company nee investment bank Goldman Sachs is looking to repay its government debt sooner rather than later, and in doing so may push its peers to follow a similar path.
March 25, 2009 by Joseph McCafferty
Holding company nee investment bank Goldman Sachs is looking to repay its government debt sooner rather than later, and in doing so may push its peers to follow a similar path.
Senator: No Morgan Stanley Bonuses
March 18, 2009 by Joseph McCafferty
New Jersey Democratic Senator Robert Menendez says Morgan Stanley should be denied the right to pay out as much as $3 billion in bonuses designed to retain employees at risk of being “poached” by competitors.
March 18, 2009 by Joseph McCafferty
New Jersey Democratic Senator Robert Menendez says Morgan Stanley should be denied the right to pay out as much as $3 billion in bonuses designed to retain employees at risk of being “poached” by competitors.
Citigroup Board Nominates Four Indies
March 17, 2009
Beleaguered-but-battling Citigroup announced the nomination of four new independent directors for its board yesterday.
March 17, 2009
Beleaguered-but-battling Citigroup announced the nomination of four new independent directors for its board yesterday.
Dimon Calls for Unity Behind Obama
March 12, 2009 by Joseph McCafferty
Jamie Dimon, CEO of JPMorgan Chase, is pushing lawmakers to unite behind President Barack Obama and not behave like a “dysfunctional family” as the country battles economic crisis.
March 12, 2009 by Joseph McCafferty
Jamie Dimon, CEO of JPMorgan Chase, is pushing lawmakers to unite behind President Barack Obama and not behave like a “dysfunctional family” as the country battles economic crisis.
Citigroup to Ease Up on Mortgage Payments
March 3, 2009 by Joseph McCafferty
Citigroup said today that it will allow recently unemployed homeowners a temporary break on their mortgage payments in an effort to alleviate foreclosures.
March 3, 2009 by Joseph McCafferty
Citigroup said today that it will allow recently unemployed homeowners a temporary break on their mortgage payments in an effort to alleviate foreclosures.
Morgan, Wells Diverge on Broker Bonuses
February 23, 2009 by Joseph McCafferty
Wall Street firm Morgan Stanley plans to hand out as much as $3 billion in retention payments to 6,500 brokers in the joint venture it recently struck with Citigroup’s Smith Barney.
February 23, 2009 by Joseph McCafferty
Wall Street firm Morgan Stanley plans to hand out as much as $3 billion in retention payments to 6,500 brokers in the joint venture it recently struck with Citigroup’s Smith Barney.
Citi Ex-CEOs Still Getting Perks
February 18, 2009 by Joseph McCafferty
Looking for Charles “Chuck” Prince, ousted 15 months ago as Citigroup Inc.’s chief executive officer? Just call his extension at the bank, which still pays for his office and secretary in Midtown Manhattan.
February 18, 2009 by Joseph McCafferty
Looking for Charles “Chuck” Prince, ousted 15 months ago as Citigroup Inc.’s chief executive officer? Just call his extension at the bank, which still pays for his office and secretary in Midtown Manhattan.
Citi Jet Purchase ‘Does Not Fly’
January 28, 2009 by Joseph McCafferty
Citigroup will not receive a new $50 million corporate jet after lawmakers swooped in to stop the bailout-sustained bank from making the purchase.
January 28, 2009 by Joseph McCafferty
Citigroup will not receive a new $50 million corporate jet after lawmakers swooped in to stop the bailout-sustained bank from making the purchase.
The Outlook: Fixing the Banks
January 22, 2009 by Peter Morici
Banks continue to suffer huge losses, but no one can calibrate how high bank losses will go, because no one knows how far housing prices will drop and how many loans will ultimately fail. Now Barack Obama must act pragmatically to fix the banks or the economy will sink under their weight.
January 22, 2009 by Peter Morici
Banks continue to suffer huge losses, but no one can calibrate how high bank losses will go, because no one knows how far housing prices will drop and how many loans will ultimately fail. Now Barack Obama must act pragmatically to fix the banks or the economy will sink under their weight.
Too Many CEOs on Citi Board?
January 15, 2009 by Joseph McCafferty
Citigroup chief executive Vikram Pandit has declared for much of his year-long tenure that the financial giant's 'supermarket' business model is not broken, until this week. Now, the board is said to be weighing whether to replace Pandit in addition to Sir Win Bischoff.
January 15, 2009 by Joseph McCafferty
Citigroup chief executive Vikram Pandit has declared for much of his year-long tenure that the financial giant's 'supermarket' business model is not broken, until this week. Now, the board is said to be weighing whether to replace Pandit in addition to Sir Win Bischoff.
Citi Finds Breaking Up is Hard to Do
January 14, 2009 by Joseph McCafferty
Citigroup will soon announce a far-reaching plan to shed a number of businesses and shrink itself by one-third.
January 14, 2009 by Joseph McCafferty
Citigroup will soon announce a far-reaching plan to shed a number of businesses and shrink itself by one-third.
Pressure Falls on Citigroup to Reorganize
January 12, 2009 by Joseph McCafferty
A series of organizational shakeups at Citigroup are calling into question the integrity of the bank’s leadership structure and may lead to an overhaul of the company’s board.
January 12, 2009 by Joseph McCafferty
A series of organizational shakeups at Citigroup are calling into question the integrity of the bank’s leadership structure and may lead to an overhaul of the company’s board.