Days after being rebuked by shareholders, Citigroup Inc (C.N) Chief Executive Vikram Pandit and the bank's directors have been sued by a shareholder accusing them of awarding outsized pay to top executives.
(Reuters) - Citigroup Inc had sought approval for $8 billion in share repurchases as a part of the capital plan turned down by the Federal Reserve last month, the Wall Street Journal said, citing sources.
Citigroup Inc. shareholders rejected its executive pay plan, a first among the six largest U.S. banks, amid criticism it lets Chief Executive Officer Vikram Pandit collect millions of dollars in rewards too easily.
The Comptroller of the Currency, which regulates national banks, said on Thursday that Citigroup Inc's Citibank had fallen short in establishing and maintaining programs meant to identify money laundering and other improper flows of money.
Richard Parsons, speaking two days after ending his 16-year tenure on the board of Citigroup Inc. and a predecessor, said the financial crisis was partly caused by a regulatory change that permitted the company's creation.
Large institutions including JPMorgan Chase & Co., Citigroup Inc., Sun Trust and Bank of America have introduced the technology to reduce the cost of handling paper cheques, which can include storage, labour and transportation costs, to name a few.
NEW YORK— Citigroup Inc. C 0.24 % said it hired Rohan Weerasinghe as general counsel to succeed Michael Helfer. Mr. Helfer, 67 years old, was general counsel for nine years during which time Citi went through major changes including receiving $45 ...