TOPIC

/ company

Citigroup

The latest news, analysis and opinion on Citigroup. In-depth analysis, industry insights and expert opinion.

Chairman / President

Jane Fraser

CEO / Managing Director

Jane Fraser

CFO / Finance Director

Mark Mason

Industry

Banking, Financial Services, Fund & Asset Management

Website

citigroup.com

Headquarters address

388 Greenwich Street, New York, NY 10013, USA

Stock Code

NYSE:C

Year founded

1812

Citigroup CEO Jane Fraser, the first woman to lead a major United States bank. Photo: SCMP Archives

Millionaires and billionaires

Meet Citigroup CEO Jane Fraser, the first woman to lead a major US bank

Fraser spent her teenage years in Australia and has 2 master’s degrees, from Cambridge and Harvard; her Cuban-born husband quit his job as a banker to support her as a stay-at-home dad.

1 Mar 2025 - 6:00AM

Banking & finance

Citigroup lifts CEO Jane Fraser’s total pay by a third to US$34.5 million

19 Feb 2025 - 3:51PM

Banking & finance

Yuan trade finance rises in Hong Kong as firms seek cost efficiencies

3 Feb 2025 - 7:30AMvideocam

Hong Kong Monetary Authority (HKMA)

Hong Kong banks cut lending rates, but HKMA warns of volatility ahead

The latest rate cuts by lenders such as HSBC and Bank of China will lighten the monthly burden on mortgage borrowers by about HK$351 to HK$22,452.

19 Dec 2024 - 4:50PM

The HKMA’s interest-rate cut has given Hong Kong business owners and mortgage holders a reprieve. Photo: Shutterstock

Banking & finance

Exclusive | Citigroup’s Jane Fraser on Hong Kong’s enduring charm and strategic role

A potential trade war will not alter the US bank’s expansion plans in Asia, or Hong Kong’s importance, Fraser says in an exclusive interview.

13 Jan 2025 - 4:23PM

Focus

Global CEOs see new hopes, old threats in Hong Kong vs Trump 2.0

‘People are leery of investing a lot of money in a country that is part of geopolitical tensions,’ Oaktree Capital’s Howard Marks says.

13 Jan 2025 - 4:18PM

Banking & finance

Citigroup CEO meets Chinese officials as Beijing touts financial market reforms

Fraser said the Wall Street bank will ‘further its participation in the market to help promote US-China economic ties and trade’.

22 Nov 2024 - 1:06PM

Chinese Vice-Premier He Lifeng met Citigroup CEO Jane Fraser at the Great Hall of the People in Beijing on Thursday. Photo: Xinhua

Banking & finance

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

8 Nov 2024 - 11:06AM

Catalysing fintech innovations

Citi brings game-changing digital solutions to wealth management and institutional banking

Cross-sector collaboration among key players in the fintech ecosystem is transforming the client experience.

In partnership with:

Citi

Banking & finance

Exclusive | Hong Kong to turn bankers’ summit into calendar ‘anchor’ on popular demand

The summit is pivoting from the publicity objective of its 2022 inaugural edition to making Hong Kong the venue to discuss issues that affect global banking.

22 Oct 2024 - 9:49AMvideocam

Chief Executive of Hong Kong SAR John Lee Ka-chiu (right) and Financial Secretary Paul Chan Mo-po during the second Global Financial Leaders’ Investment Summit at the Four Seasons Hotel in Central on 7 November 2023. Photo: May Tse.

Banking & finance

Wealthy Asians drawn to Hong Kong’s varied investment choices: Citibank

High-net-worth individuals from mainland China and Asia use Hong Kong to invest their wealth as they seek wider investment choices and better returns.

2 Oct 2024 - 2:30PM

Citibank has seen its high-net-worth international personal banking clients double in the first eight months this year. Photo: Reuters

Banking & finance

Hong Kong investments, insurance sales and card spending jump: Citigroup

‘The recent stock market rally has led customers across the board to become more active in investment,’ says the bank’s head of wealth.

4 Jun 2024 - 9:00AM

Banking & finance

Exclusive | Hong Kong key to Citigroup’s Asia wealth business expansion plan

Citigroup will use Hong Kong as a hub to expand its wealth management business in the Greater Bay Area and Asia, which is set to become the fastest-growing region globally, according to global wealth head Andy Sieg.

28 Aug 2024 - 3:52PM

Banking & finance

Year of the Dragon: which Hong Kong bank is giving staff the most lai see?

A Post poll of 10 lenders found that this year’s packets range from HK$100 (US$12.82) to HK$1,000, with bank employees also set to enjoy hampers full of treats, lucky draws and even extra time off.

13 Feb 2024 - 2:30PM

Lai see packets are displayed at the Eco Art Limited office in Kwun Tong, Hong Kong. Photo: Yik Yeung-man

Hong Kong stock market

Hong Kong stocks’ 7-day slump worst since August; Shanghai index at May 2020 low

The Hang Seng Index closed lower for a seventh day, posting the longest losing streak since mid-August. Cross-strait tensions rose a notch as Taiwan votes for a new president later this week.

10 Jan 2024 - 5:11PM

Chinese national flag in front of screens showing stock market data outside the Exchange Square in Central, Hong Kong in August 2023. Photo: Reuters

Hong Kong stock market

Citigroup, HSBC trim Hang Seng Index targets on earnings, China policy doubts

The new year is barely two weeks old and some strategists are unsure if the city’s stock market will convincingly end a four-year losing streak.

10 Jan 2024 - 7:00AMvideocam

Banking & finance

SHKP tops Hong Kong’s home sales in 2023 as deals hit a 33-year low

Sun Hung Kai Properties (SHKP) topped the city’s home sales table in 2023, accounting for over a quarter of the deal volume for residential flats in one of the world’s most expensive property markets.

3 Jan 2024 - 4:06PM

HSBC

Exclusive | HSBC may resort to acquisitions to undergird its Asia pivot

The focus on shareholder returns partly reflects HSBC’s new strategy to deflect last year’s break-up call by its largest stakeholder Ping An Group.

30 Jan 2024 - 10:09AM

HSBC’s Asia Pacific co-chief executive David Liao at HSBC headquarters in Central, December 7, 2023. Photo: Yik Yeung-man.

Hong Kong Monetary Authority (HKMA)

Hong Kong treats top bankers to banquet, cultural show to launch summit

The HKMA hosted 300 global bankers at the Palace Museum in the lead up to the second edition of its Global Financial Leaders’ Investment Summit, which takes place over the next two days.

6 Nov 2023 - 11:36PMvideocam

Banking & finance

China Resources property arm mulls IPO to raise up to US$1 billion -sources

China Resources Longdation, a property arm of state-owned conglomerate China Resources, plans to raise between US$500 million and US$1 billion in a Hong Kong initial public offering (IPO), according to three sources with direct knowledge of the matter.

13 Oct 2023 - 1:56PM

Banking & finance

HSBC buys Citigroup’s US$3.6 billion China consumer wealth business

HSBC Holdings is acquiring Citigroup’s retail wealth management business in mainland China, accelerating its push in the world’s second-largest economy.

9 Oct 2023 - 1:41PMvideocam

HSBC is expanding its presence in China’s wealth management segment with the purchase of Citigroup’s retail banking business. Photo: Reuters

Banking & finance

Chinese battery parts maker Londian plans US$500 million IPO: sources

Chinese copper foil maker Londian Wason Energy Tech is planning an initial public offering in the US, and the company is working with Citigroup and Goldman Sachs on the listing preparations.

28 Sep 2023 - 5:33PM

Workers produce electric vehicle power lithium battery housings at a workshop in Hefei, Anhui province, China. Photo: Getty Images

Banking & finance

Hong Kong’s wooing of family offices yields ‘robust’ interest: Citi banker

Clients from not only China but also Southeast Asia, the Middle East and Europe are showing sustained interest, says Ida Liu, global head of Citi Private Bank.

12 Sep 2023 - 7:30AM

China stock market

China stock bulls wait for year-end bounce as economy, stimulus disappoint

Can Chinese stocks still live up to bullish post-pandemic optimism? Analysts at HSBC Qianhai, Citigroup and UBS are the latest to trim and rein in their year-end targets.

29 Jun 2023 - 4:53PMvideocam

China stock market

BNY Mellon turns neutral on China stocks on weakening economic momentum

BNY Mellon has joined Citigroup and Jefferies in becoming less bullish on Chinese stocks, after economic data fell short of estimates in April. It expects the yuan to trade above the 7 mark for the foreseeable future.

30 May 2023 - 2:00PM

US money manager BNY Mellon Investment Management has turned bearish on the yuan and is less bullish on Chinese equities. Photo: Bloomberg

Artificial intelligence

Samsung bans staff’s AI use after spotting ChatGPT data leak

Samsung is banning employee use of popular generative AI tools like ChatGPT after discovering staff uploaded sensitive code to the platform.

2 May 2023 - 2:48PM

A man walks past a signboard of Samsung Electronics displayed outside the company’s Seocho building in Seoul on April 7, 2023. Photo: AFP

Banking & finance

‘Worst is over’, Citi official says as bank looks to increase staff in Hong Kong

Citigroup, the biggest foreign lender in Hong Kong, will increase staff at its commercial banking unit in the city by 100 to tap growing opportunities in the Greater Bay Area, according to a senior executive.

2 May 2023 - 9:05AM

Silicon Valley Bank (SVB)

First Republic Bank gets US$30 billion in deposits in rescue effort

JPMorgan Chase, Bank of America, Citigroup and Wells Fargo will contribute US$5 billion each, while Goldman Sachs and Morgan Stanley will kick in US$2.5 billion apiece.

17 Mar 2023 - 5:30AMvideocam

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