• Fri
  • Apr 18, 2014
  • Updated: 3:22pm

Michael Corbat

With Corbat at helm, Citi’s profit, revenue rise

It’s been nine months since Mike Corbat was handed the reins of Citigroup and tasked with turning around the struggling banking giant.

Tuesday, 16 July, 2013, 10:27am

Citigroup to close six Hong Kong branches and lay off staff

Citigroup is to close six branches and cut jobs in Hong Kong over the next few months as part of efforts to trim its workforce worldwide.

The closures come on the heels of the Japanese investment bank Nomura quietly laying off staff in Hong Kong.

7 Dec 2012 - 3:34am

Citigroup cuts 11,000 jobs as Corbat tackles revenue slump

Citigroup’s Michael Corbat, who took over as chief executive less than two months ago, will cut more than 11,000 jobs and pull back from some emerging markets to drive down costs as revenue dries up at global banks.

29 Aug 2013 - 4:13am

It's all squared now, Ip is going to Exco

Now we know why Regina Ip Lau Suk-yee couldn't take part in the Intelligence Squared debate. We wrote yesterday about Ip and her withdrawal from the debate. She was due to speak in favour of the motion "China picks better leaders than the West". However, last week she told the organisers that her travel schedule had changed and she wouldn't therefore be able to participate.

18 Oct 2012 - 4:47am 1 comment

Citigroup CEO Pandit quits, shocking Wall Street

Citigroup shocked Wall Street Tuesday with news of the immediate resignation of chief executive Vikram Pandit and his top aide a day after the number-three US bank posted quarterly earnings.

Citi’s board unanimously elected Michael Corbat, head of the Europe, Middle East and Africa division, to succeed Pandit as CEO and fill his seat on the board, the bank said.

17 Oct 2012 - 3:24am