Drop driven by lower revenues in fixed income and higher consumer credit costs
Pandit named CEO of Institutional Clients Group
U.S. banking giant hit by credit squeeze
Orders US$12.2 million in restitution to over 200 customers
ECN complements Citi’s in-house electronic execution capabilities
Pair will jointly chair Citi Markets & Banking planning group
Includes significant Increases in financing of alternative energy, clean technology, and other carbon-emission reduction activities
Citigroup aims to become a major provider of hedge fund and mutual fund services with the acquisition
Citigroup will have an ownership stake of 60% in the brokerage for a cost of US$7.7 million
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