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Citigroup loses battle to buy Wachovia

October 9, 2008 — 9:01pm ET | By Jim Kim
In the end, Citigroup decided to give up on Wachovia entirely, even though there were signs that the Fed wanted to somehow divvy up the bank. The parties apparently could not agree on how to divide... Read more...

How the government fares in Wachovia bids

October 7, 2008 — 8:52pm ET | By Jim Kim
While it's tempting to think that the Wells Fargo bid is superior to the Citi bid because it does not require government assistance, it may not be that simple. There are costs to taxpayers either... Read more...

The most Citigroup can hope for

October 7, 2008 — 1:27pm ET | By Jim Kim
The three-way tussle for Wachovia right now seems to favor Wells Fargo. Breakingviews notes that the Wells-Wachovia deal is superior in every way to the Citigroup-Wachovia deal. That is painfully... Read more...

Does Meredith Whitney have a new target?

October 5, 2008 — 9:42am ET | By Jim Kim
The powerful analyst at Oppenheimer, who is hardly shy about voicing her criticisms of such bank as Citigroup and Lehman Brothers, may have a new target. In Fortune interview, she says, "The Paulson... Read more...

Battle for Wachovia rages

October 5, 2008 — 9:41am ET | By Jim Kim
This is getting ugly. Citigroup appeared to have won a victory in what looks to be a nasty courtroom battle for Wachovia. A judge in New York has temporarily blocked Wells Fargo from negotiating with... Read more...

Twist: Wells Fargo to buy Wachovia

October 3, 2008 — 8:07am ET | By Jim Kim
Wow! The world thought Citigroup had a government-assisted deal to buy Wachovia's banking operations for $1 a share. But that deal seems to have been scuttled for a better deal (for shareholders)... Read more...

Bailout rejection a wrench for Buffett and Pandit

September 30, 2008 — 5:40pm ET | By Jim Kim
Warren Buffett made it known that his $5 billion wager on Goldman Sachs assumed that the government would take some sort of bailout action. Likewise, Citigroup's deal for Wachovia would have looked a... Read more...

Ken Lewis faces his future

September 30, 2008 — 12:38pm ET | By Jim Kim
One of the most powerful men in finance resides and works in Charlotte, not Manhattan or London. Bank of America has been on quite a ride. From the doom and gloom of earlier this year, to the... Read more...

Citigroup to buy Wachovia

September 29, 2008 — 12:06pm ET | By Jim Kim
Another day, another bank "failure." Citigroup will buy Wachovia for $1 a share, in a deal that was brought about by regulators. Citigroup's shareholders may not be applauding, seeing as the bank... Read more...

Wachovia in talks with Citigroup

September 28, 2008 — 9:08am ET | By Jim Kim
There's been a lot of nervousness about Wachovia of late. The bank's CDS spreads have been rising, which is really pressuring its stock. With the ghost of Washington Mutual hovering near, there is a... Read more...
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Press Releases

Citi Board Names Vikram Pandit Chief Executive Officer and Sir Win Bischoff Chairman

New York – The Board of Directors of Citi today announced that it has appointed Vikram Pandit as the company's new Chief Executive Officer and member of the Board of Directors, effective Read more >>

Citigroup appoints Jorge Bermudez as Chief Risk Officer

FOR IMMEDIATE RELEASE Citigroup Inc. (NYSE: C) November 16 2007 New York – Citi today announced the appointment of Jorge A. Bermudez as Chief Risk Officer, with responsibility for market, credit, Read more >>

Robert E. Rubin to Serve as Chairman of the Board of Citi

Sir Win Bischoff to Serve as Acting Chief Executive Officer Charles Prince Elects to Retire from Citi New York – The Board of Directors of Citigroup Inc. today announced that Robert E. Rubin, Read more >>

John Redpath Joins Deutsche Bank as Global Head of Oil Products and Agriculture Trading

Deutsche Bank Securities Inc. today announced that John Redpath has joined as a Managing Director and Global Head of Oil Products and Agriculture Trading in the Global Markets division. In this role, Read more >>
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