8chan/8kun QResearch Posts (16)
#12946674 at 2021-02-16 18:27:12 (UTC+1)
Q Research General #16522: Biden's "Dark Winter" Has Begun Edition
Citi Loses Court Battle Over $500MM "Fat Finger" Trade
Some Citigroup execs are about to have some serious explaining to do to their shareholders (though fortunately for the bank, outgoing CEO Michael Corbat is still at the rudder to take the PR hit).
After more than a year of fighting, Bloomberg reports that Citigroup has officially lost the court battle to recover some $500MM that was accidentally transferred to investors in a Revlon debt deal.
Citigroup shares retreated (but remained in the green) on the news, which was first reported by Bloomberg.
US District Judge Jesse Furman said 10 asset managers for the lenders – which include Brigade Capital Management, HPS Investment Partners and Symphony Asset Management - don't have to return more than $500 million that Citibank said it mistakenly transferred in August while trying to make an interest payment.
We initially wrote about the issue last year, as it was becoming clearer that Citi's path to recovering the money might be legally fraught. Now, it looks like the bank will end up being stiffed for half a billion (earlier reports said the number at risk could be as much as $900MM) by a bunch of its clients.
As one twitter user pointed out, Citigroup is apparently eating its just desserts after helping corporate raider Ronald Perelman try to strip assets from Revlon.
https://www.zerohedge.com/markets/citi-loses-court-battle-over-500mm-fat-finger-trade
#11909529 at 2020-12-05 04:04:56 (UTC+1)
Q Research General #15202: CM Royal Flush against Cheap handed Journo Edition
Citi's Corbat Concerned Working-From-Home Could Harm 'Long-Term Productivity' As Bankers Pull 7-Day Weeks
As Wall Street deal flow continues to rage and top JPM executives inform M&A analysts that they won't be getting much of a Christmas break, outgoing Citigroup CEO Michael Corbat has just become the second top banker to express doubts about the shift to working from home vs. the office - at least, as far as Wall Street is concerned.
As bankers wonder what the future might hold as far as when they'll be returning to the office for good (if they haven't already), Bloomberg has published a wide-ranging interview with Corbat on Friday as he prepares to hand over the reins to Jane Fraser, set to become the first woman to ever lead an American megabank.
During the interview, Corbat addressed reports that WFH has - counterintuitively - led to a surge in productivity as the bank's workers pull long hours and 7-day weeks. He added that productivity like this could come with serious long-term drawbacks.
"People talk about the productivity that comes with working remotely," Corbat said in a televised interview for a Bloomberg Invest Talks event that aired Friday. "Well, if I worked seven days a week, 15 to 16 hours a day and I don't take any holidays, at least for a period of time I'm going to be more productive."
Although he's concerned about the "hollowing out" of workers' skill sets, Corbat says Citi should take its time to assess how WFH impacts productivity over the long term, arguing that a final decision about WFH policies shouldn't be made in hast.
"I don't want to wake up as an industry and have hollowed out our skill sets," Corbat said. "We'll absolutely continue to accelerate the move toward digital and, where appropriate, more remote. But I certainly wouldn't want to see us move too quickly."
While Citi "absolutely" prefers its workers in the office, Corbat insisted the bank wouldn't ask workers to come in if there safety might be in jeopardy.
"We absolutely like to have our people in when we can have them in, but we're not going to put them at risk," Corbat said. "We've got to stay flexible and obviously we're going through a bit of resurgence in parts of the world right now. We've been in the phase of tapering back."
But if Corbat's comments about the long hours Citi's bankers are pulling at home, then that would suggest that the bank has stumbled on what could be a major productivity breakthrough: how to get all of its bankers to work 1st year analyst hours.
https://www.zerohedge.com/markets/citis-Corbat-concerned-wfh-could-harm-long-term-productivity-bankers-pull-7-day-weeks
#11824123 at 2020-11-29 02:21:13 (UTC+1)
Q Research General #15092: Monolith Comms Edition
>>11824069
>>11824011
>>11823976
>>11823938
HEY Q TEAM
do millions of us anons worldwide a solid
man down Jason Galinas in the digital battlefield
is like taking out a Captain
and you Q team are just letting him rot on the field
get qmap.pub back up by Chrsitmas
and support his huge effort as he was a pivitol part of redpilling worldwide
get a huge Christmas gift for Jason Galinas
and all of us digital soldiers
https://nypost.com/2020/10/07/citigoup-fires-executive-jason-gelinas-for-running-a-qanon-website/
Citigroup fires executive Jason Gelinas for running a QAnon website
By Thornton McEneryOctober 7, 2020
Citigroup has fired an executive who was unmasked last month as the operator of a popular QAnon website.
Jason Gelinas, a senior vice president in Citi's technology group, got a pink slip from the $1.9 trillion megabank after it was discovered he was running QMap, a user-friendly website that collected and organized the various postings of Q, the pseudonym of QAnon's mysterious founder and leader of the controversial conspiracy group.
"Mr. Gelinas is no longer employed by Citi," a company spokesperson said in a statement. "Our Code of Conduct includes specific policies that employees are required to adhere to, and when breaches are identified, the firm takes action."
The spokesperson didn't elaborate, but last month the bank had said "employees are required to disclose and obtain approvals for outside business activities." At the time, multiple reports had found that Gelinas was earning more than $3,000 a month from the crowdfunding site Patreon to pay QMap's bills.
Gelinas, a 48-year-old resident of Berkeley Heights, NJ, was outed in early September by Logically, a fact-checking news site that also discovered Gelinas is a longtime Wall Street IT expert who joined Citi in 2003 after a stint at Credit Suisse.
Reached by Bloomberg outside his home last month, Gelinas described QAnon - a conspiracy theory that claims President Trump is battling a "deep state" ring of child-sex traffickers - as "a patriotic movement to save the country."
It's not an ideal time for Citi to be reckoning with a politically sensitive firing, especially in its technology group.
In mid-September, around the same time Gelinas was unmasked as a QAnon major player, reports swirled that regulators are preparing a formal reprimand for Citi for failing to upgrade the bank's outdated technology systems, opening it up to online threats and other risky behaviors.
On Sept. 10, Citi announced that chief executive Michael Corbat will retire in February, elevating Jane Fraser to CEO and making her the first woman to hold that role at a top-four American bank.
#11049934 at 2020-10-13 13:05:32 (UTC+1)
Q Research General #14133: The Eternal Spark Edition
Citigroup quarterly profit tumbles on low interest rates, loan demand
Citigroup Inc reported a 34% drop in quarterly profit on Tuesday, slammed by record low interest rates and a slowdown in loan demand due to the pandemic-induced recession. Net income applicable to common shareholders fell to $3.23 billion, or $1.40 per share, in the third quarter ended Sept. 30, from $4.91 billion, or $2.07 per share, a year earlier.
Analysts had expected a profit of 93 cents per share, according to IBES data from Refinitiv. It was not immediately clear if the estimates were comparable. Earlier on Tuesday, JPMorgan Chase & Co comfortably beat Wall Street estimates for third-quarter profit, riding on a surge in trading revenue as global financial markets rebounded.
In September, Citigroup named Jane Fraser to succeed Michael Corbat as its next chief executive, making her the first woman to lead a major Wall Street bank.
https://www.reuters.com/article/citigroup-results/citigroup-quarterly-profit-tumbles-on-low-interest-rates-loan-demand-idUSL4N2H42FT
#10970498 at 2020-10-07 22:28:39 (UTC+1)
Q Reserach General #14033: Countdown Edition
Citigroup Hit With $400 Million Fine Over AML Failures That Led To Mike Corbat's Downfall
The Comptroller of the Currency has finally handed down its punishment for the compliance failures that helped bring about an end to the tenure of Citibank CEO Michael Corbat.
After Citi announced that Corbat would be replaced by Jane Fraser, who will soon become the first CEO of an American megabank, it was revealed that the Office of the Comptroller of the Currency was preparing to fine Citigroup for compliance failures that had apparently become part and parcel of Corbat's executive blindness - an issue he had neglected, that ultimately lead to his downfall - or at least that's what we've taken from the press reports.
On Wednesday evening, Bloomberg reported that Citi had struck a deal with the OCC and the Fed to fix several "longstanding compliance problems" involving its risk-control and reporting measures.
As part of the deal, Citi will pay a $400 million fine. It's a slap on the wrist, but news of the settlement hit Citi's shares after hours (though at least the Feds had the decency to wait until after the close to break the news). The bank's board must also now submit a report as part of the deal outlining how it intends to fix these problems.
Citigroup Inc. has agreed to pay $400 million and must seek the government's sign-off for major acquisitions after regulators identified several longstanding problems with its risk controls.
Citigroup Inc. has agreed to an order from the Federal Reserve to fix several longstanding problems with its risk controls, according to a statement released Wednesday. The Fed's cease-and-desist order issued alongside a related sanction from the Office of the Comptroller of the Currency directs the lender to "correct practices previously identified by the Board in the areas of compliance risk management, data quality management, and internal controls." Citigroup was given a series of deadlines to analyze and report back to the Fed on how it's fixing issues identified by the regulator. Within 120 days, the bank's board of directors must submit a report detailing how it will hold senior management accountable and how executive compensation will be "consistent with risk management objectives," the Fed said.
At the same time, the Federal Reserve issued a cease-and-desist order that directs the lender to "correct practices previously identified by the Board in the areas of compliance risk management, data quality management, and internal controls."
As Bloomberg explained, the deal is just one more costly misstep for the bank, as it must now divert money away from lucrative technology investments and building out its cutting edge high frequency trading capabilities and instead hire more compliance officers who will hide in a basement in Sarasota or where ever and crank out SARs, as the FinCEN leaks revealed.
The bank noted it's made structural changes to better comply with the regulators' orders, including by hiring Karen Peetz as its new chief administrative officer to "steer these programs to completion."
The orders come just weeks after Citigroup mistakenly sent $900 million to lenders of the cosmetics giant Revlon Inc. The bank ultimately chalked the wayward payment up to employee error, noting it was in the middle of transitioning to new software for its syndicated loan business.
The ensuing legal battle was an embarrassment for the bank as many of the lenders balked at Citigroup's pleas to return the funds. For regulators, who began scrutinizing the mistaken payment within days, the incident was illustrative of broader problems at the bank.
"We appreciate the urgency of the tasks at hand and we are committed to fulfilling our obligations to all of our stakeholders," Citigroup said in the statement.
The fine may be a slap on the wrist, but Citi has already pledged to spent $1 billion on these costs this year. How much more will the bank be required to spend?
https://www.zerohedge.com/markets/citigroup-hit-400-million-fine-over-aml-failures-led-mike-Corbats-downfall
We don't want numbers on a screen we want arrests and accountability, END THE BANKING CARTELS
#10640195 at 2020-09-14 04:05:02 (UTC+1)
Q Research General #13616: "I'LL BE WITH YOU ALL THE WAY" : The After Rally Edition
Resignations 9/11/2020 thru 9/13/2020 - part 1
Citi CEO Michael Corbat to retire next year, Jane Fraser to become first woman CEO of a US megabank
https://www.cnbc.com/2020/09/10/citi-ceo-Michael-Corbat-to-retire-in-february-jane-fraser-to-become-first-woman-ceo-of-a-megabank.html
3 deputies fired, 1 arrested following Chatham Co. inmate death
https://fox28media.com/news/local/3-deputies-fired-1-arrested-following-chatham-co-inmate-death
Aiken Municipal Development Commission chairman resigning
https://www.postandcourier.com/aikenstandard/news/aiken-municipal-development-commission-chairman-resigning/article_dc67eee6-f43c-11ea-b05a-7fe0cb0732ea.html
Haworth CFO retiring; successor named
https://grbj.com/news/manufacturing/haworth-cfo-retiring-successor-named/
4 members of Columbia historic review board resign after council overrides recommendation
https://lancasteronline.com/news/regional/4-members-of-columbia-historic-review-board-resign-after-council-overrides-recommendation/article_d46453f6-f3ba-11ea-8b8a-9f9d5c10ea66.html
Samford University President Andrew Westmoreland retiring
https://thehomewoodstar.com/schools/samford-university-president-andrew-westmoreland-retiring/
Matalan reshuffles board as CEO Jason Hargreaves steps down
https://www.retail-week.com/fashion/matalan-reshuffles-board-as-ceo-jason-hargreaves-steps-down/7035732.article?authent=1
Haaretz Journalist Resigns After Accusations of Sexual Assault and Exploitation
https://archive.vn/F1jxe
University of Arkansas' top research officer resigns
https://talkbusiness.net/2020/09/university-of-arkansas-top-research-officer-resigns/
Scranton Police Chief Carl Graziano retiring
https://www.wnep.com/article/news/local/lackawanna-county/chief-graziano-retires-from-scranton-police/523-ab6facea-1452-4dc2-a0a4-279bdaac0daf
Global Mining Company Execs Stepping Down After Outcry Over Detonating Ancient Gorge
https://www.voanews.com/east-asia-pacific/global-mining-company-execs-stepping-down-after-outcry-over-detonating-ancient
Sigma Sigma Sigma president resigns following allegations of racist conduct
https://www.themaneater.com/stories/campus/update:-sigma-sigma-sigma-president-resigns-following-allegations-of-racist-conduct
Savara's long-reigning duo both resign in the wake of CF bust
https://endpts.com/savaras-long-reigning-duo-both-resign-in-the-wake-of-cf-bust/
Xerox CFO to resign
https://13wham.com/news/local/xerox-cfo-to-resign
U.S. Attorney John Durham's Top Aide Resigns From Russia Probe Over Political Pressure: Report
https://www.thedailybeast.com/john-durhams-top-aide-nora-dannehy-resigns-from-russia-probe-over-political-pressure-report-says
Iowa police officer facing child pornography charges resigns
https://www.press-citizen.com/story/news/crime-and-courts/2020/09/11/belle-plaine-police-officer-jared-daily-resigns/5771109002/
MERV JOHNSON RETIRING FROM RADIO ANALYST ROLE
https://soonersports.com/news/2020/9/11/football-merv-johnson-retiring-from-radio-analyst-role.aspx
COA Youth & Family Centers executive director retiring
https://biztimes.com/coa-youth-family-centers-executive-director-retiring/
Producer Sarah Stock Fired From WWE After Five Years Backstage
https://www.mandatory.com/wrestlezone/news/1201821-producer-sarah-stock-fired-from-wwe-after-five-years-backstage
Bridgeport Police Chief Resigns Following Arrest
https://www.nbcconnecticut.com/news/local/bridgeport-police-chief-resigns-following-arrest/2330971/
Culver Town Council Recognizes Retiring Library Director
https://wkvi.com/2020/09/culver-town-council-recognizes-retiring-library-director/
#10589130 at 2020-09-10 15:11:22 (UTC+1)
Q Research General #13550: [They] Will Let You Burn Edition
Citigroup's Jane Fraser to become first woman to head a Wall Street bank
Citigroup Inc (C.N) on Thursday named consumer banking head Jane Fraser to succeed Michael Corbat next year as the bank's chief executive officer, making her the first woman to lead a major Wall Street bank. Fraser, 53, has been a rising star in the financial industry, with a career spanning investment banking, wealth management, troubled mortgage workouts and strategy in Latin America - a key business for Citigroup. Her promotion to CEO was widely expected since being elevated to Citigroup president last year, and was celebrated as a step in the right direction for an industry that has few women or diverse executives in its top ranks. "Great news for the company and for women everywhere!" tweeted Bank of America Corp (BAC.N) operations and technology chief Cathy Bessant. "A big and fantastic moment."Citigroup shares were up 1% in morning trade.Indeed, Fraser joins a small group of women who have broken through the glass ceiling to reach the C-suite at major financial firms.
In addition to Bessant, there is Fidelity Investments CEO Abigail Johnson, JPMorgan's consumer lending head Marianne Lake and its finance chief Jennifer Piepszak, and Alison Rose, CEO of British bank NatWest. Fraser launched her career at Goldman Sachs in its mergers & acquisitions department in London and then worked for Asesores Bursátiles in Madrid. She joined Citigroup 16 years ago and is credited internally with helping the bank recover after the financial crisis, when it had to take $45 billion in taxpayer funds to survive. Through the years, she has run client strategy in Citi's investment bank, as well as its private bank, its mortgage business and its operations in Latin America, which accounted for 14% of annual revenue at the end of 2019. Her name was floated last year as a potential CEO candidate at Wells Fargo & Co (WFC.N), before the board settled on former JPMorgan executive Charles Scharf. In October, Fraser was promoted to the role of president and tasked to head its global consumer bank, a move that was widely seen as a precursor to her elevation.
https://www.reuters.com/article/us-citigroup-ceo/citigroups-jane-fraser-to-become-first-woman-to-head-a-wall-street-bank-idUSKBN26124I
#10556623 at 2020-09-07 16:17:16 (UTC+1)
Q Research General #13508: It's The Final Countdown Edition
Citigroup Feuds With Hedge Funds Over Botched Payment
Citigroup Inc. C 1.98% and a big hedge-fund client are locked in an uncharacteristically public feud that has embroiled top executives at both firms and laid bare a $900 million mistaken payment by the bank. At the root of the dispute: Citi's role helping billionaire investor Ron Perelman restructure the corporate loans of cosmetics company Revlon Inc. REV -0.26% Some investors wanted Citi to bow out of the transaction; when it didn't, they blamed the bank for facilitating a deal that hurt their investments, according to people familiar with the matter and court documents. Chief among those investors: $28 billion money manager Brigade Capital Management LP.
Until recently, Brigade and its founder, Donald Morgan, had worked closely with Citi. Brigade had hired Citi to help it raise at least $1.5 billion of new loan funds over the past two years, according to S&P Global Market Intelligence. The bank had also advised Mr. Morgan on potential merger-and-acquisition opportunities for Brigade in previous years, people familiar with the matter said. Now Citi and Brigade are slugging it out in court, cutting ties and arguing over the return of around $170 million the fund received when the bank accidentally paid Revlon lenders about $900 million. Citi even took the extraordinary step last month of backing out of a nearly completed deal to arrange a $400 million collateralized loan obligation for Brigade as well as another deal that was in earlier stages, according to people familiar with the matter. This cost the bank about $1 million in lost fees, the people said.
"Though our fiduciary duty to our clients has put us into conflict with Citibank relating to their role as agent on the Revlon Term Loan, Brigade has not sought to limit any other business or trading activity with Citibank as a consequence of this specific disagreement," a spokeswoman for Brigade said. The fight is the latest example of a big Wall Street bank caught between the competing interests of its corporate and investment clients. Years ago, banks typically served one group or the other. Today's megabanks are one-stop shops that serve clients across the financing and markets spectrum, sometimes leaving them in what can appear to be conflicted positions. For Citi, the dispute, and especially the mistaken payment, have added to a string of missteps over the past decade, raised questions from analysts about the bank's internal controls and drawn the attention of regulators. "The management team has acknowledged in the past that it had credibility issues, so it doesn't help that," said Brian Kleinhanzl, a managing director at Keefe, Bruyette & Woods Inc.
Past examples include a fine in 2018 for failures in anti-money-laundering controls, the disclosure of large frauds in 2014 in its Mexican unit and a $590 million settlement in 2012 of a class-action suit filed in 2007 over alleged deceitful mortgage-lending practices. The bank has since invested in anti-money-laundering programs and this year appointed a new compliance chief and created a new role, chief administrative officer, to enhance safety and controls, according to a bank spokeswoman and memos from Citi chief Michael Corbat. Meanwhile, Brigade finds itself in the kind of limelight that Mr. Morgan, a former high-yield bond analyst, has typically avoided. While Brigade was launched primarily as a hedge-fund manager in 2006 and sometimes plays an activist role at companies, the bulk of the money it now manages is in more traditional high-yield bond funds and collateralized loan obligations, or CLOs, some of the people familiar with the matter said.
moar
https://dnyuz.com/2020/09/07/citigroup-feuds-with-hedge-funds-over-botched-payment/
#9042233 at 2020-05-05 20:20:44 (UTC+1)
Q Research General #11574: Cinco de Cinco, Knowledge Is Power Edition
HSI partners with Pfizer, 3M, Citi, Alibaba, Amazon, Merck to protect consumers against COVID-19-related fraud
WASHINGTON - Industry experts from Pfizer, 3M, Citi, Alibaba, Amazon and Merck have joined forces with Homeland Security Investigations (HSI) National Intellectual Property Rights Coordination Center (IPR Center) criminal investigators in an unprecedented public-private partnership to combat fraud and other illegal activity surrounding COVID-19.
"Scammers and other criminals are exploiting this time of anxiety and uncertainty to take advantage of consumers' fears, and HSI has made it a top priority to investigate anyone attempting to use the COVID-19 pandemic to defraud other people," said HSI Acting Executive Associate Director Alysa D. Erichs. "A robust partnership with the private sector is an absolute requirement to effectively disrupt and dismantle COVID-19 criminal networks and strengthen global supply-chain security."
Since the start of the pandemic, HSI and other law enforcement agencies have seen a significant increase in criminals attempting to capitalize and profit from the fear and anxiety surrounding the virus, including the sale of counterfeit pharmaceuticals and medical equipment and illicit online sales and trade importation violations of products claiming to be treatment options.
"Pfizer is committed to delivering for the world breakthroughs that change patients' lives," said Albert Bourla, CEO and chairman, Pfizer Inc. "We are dedicated to protecting patients and applaud the National Intellectual Property Rights Center's efforts to address harmful and misleading offers for counterfeit and substandard medicines or from fraudulent scams that put patient's and first responders health and safety at risk."
"At 3M, we play a unique and critical role in pandemic preparedness and response. As a result, we are attacking the pandemic from all angles, which includes mobilizing all our resources and rapidly increasing output of critical supplies to healthcare workers and first responders. These efforts also include combating fraud and protecting the public against those who seek to exploit the pandemic using 3M's name connected with price gouging and counterfeiting. We are partnering with national and international law enforcement, tech companies and online retailers to prevent fraud before it starts and stop it where it is happening," said Mike Roman, 3M chairman and chief executive officer.
"Citi is committed to playing an important role in protecting our clients and the financial system from illicit activity," said Michael Corbat, Citi's CEO. "Unfortunately, the need to combat this type of activity only increases in a crisis like this so we are appreciative of this collaborative effort organized by the IPR Center and determined to continue to do our part."
"Consumer health and safety is Alibaba's top priority. We will continue to enforce a zero-tolerance policy against those engaged in illicit activity, especially with respect to products and services related to COVID-19," said Michael Evans, president of Alibaba Group. "We are proud to be part of this important collaboration and value our long-standing partnership with the Department of Homeland Security."
"Since the beginning of the COVID-19 crisis, Amazon has proactively stopped more than 6.5 million products with inaccurate claims, removed over 1 million offers for suspected price gouging, suspended more than 10,000 selling accounts for suspected price gouging and referred the most egregious offenders to federal and state law enforcement across the country. Amazon welcomes HSI's partnership in holding counterfeiters and bad actors accountable, and we look forward to building on our long-standing relationship to protect customers and ensure a trusted shopping experience," said Dharmesh Mehta, Amazon vice president, customer trust and partner support.
"Merck is committed to patient safety and protecting the public from the dangers of counterfeit medicines. We appreciate this collaboration and we will continue to partner with law enforcement and health care officials worldwide to combat the dangers posed by criminals trafficking in illicit medicines," said David Resch, vice president and chief security officer, Merck & Co., Inc.
https://www.ice.gov/news/releases/hsi-partners-pfizer-3m-citi-alibaba-amazon-merck-protect-consumers-against-covid-19
Love how the Gov keeps working with DS
#8664690 at 2020-04-02 20:46:50 (UTC+1)
Q Research General #11094: The Official, Sole and Singular 11094 Edition
Citigroup, an Admitted Felon with a History of Abusing Customers, Is Handling Billions from the Stimulus Bill
Yesterday CNBC reported that Citigroup is one of the banks selected by the Small Business Administration to handle billions of dollars earmarked in last week's stimulus bill to help small businesses get back on their feet and keep their employees paid during the coronavirus crisis.
see here
Citigroup CEO Michael Corbat says bank is 'working around the clock' on small business relief program
https://www.cnbc.com/2020/04/01/citigroup-ceo-says-bank-is-working-around-the-clock-on-small-business-relief.html
Citigroup's Citicorp subsidiary was charged with, and pleaded guilty to, a criminal felony count brought by the U.S. Department of Justice on May 20, 2015 for its role in rigging foreign currency trading. Its rap sheet for a long series of abuses to its customers and investors since 2008 is nothing short of breathtaking.
During the financial crash of 2007 to 2010, Citigroup received the largest bailout in global banking history after its former top executives had walked away with hundreds of millions of dollars that they cashed out of stock options. Citigroup received over $2.5 trillion in secret Federal Reserve loans; $45 billion in capital infusions from the U.S. Treasury; a government guarantee of over $300 billion on its dubious "assets"; a government guarantee of $5.75 billion on its senior unsecured debt and $26 billion on its commercial paper and interbank deposits by the Federal Deposit Insurance Corporation.
Sandy Weill was the Chairman and CEO of Citigroup as it built up its toxic footprint and off-balance-sheet vehicles that blew up the bank. Weill was also the man who engineered the repeal of the Glass-Steagall Act, the depression-era legislation that had safeguarded the U.S. banking system for 66 years before its repeal in 1999. Weill needed the Glass-Steagall legislation to vanish so that he could merge his hodgepodge of Wall Street trading firms (Salomon Brothers and Smith Barney, et al) with a federally-insured bank full of deposits. Weill told his merger partner, John Reed of Citibank, that his motivation for the deal was: "We could be so rich," according to Reed in an interview with Bill Moyers.
When Weill stepped down as CEO in 2003, he had amassed over $1 billion in compensation, the bulk of it coming from his reloading stock options. (He remained as Chairman of Citigroup until 2006.) Just one day after stepping down as CEO, Citigroup's Board of Directors allowed Weill to sell back to the corporation 5.6 million shares of his stock for $264 million. This eliminated Weill's risk that his big share sale would drive down his own share prices as he was selling. The Board negotiated the price at $47.14 for all of Weill's shares.
On May 9, 2011 Citigroup did a 1 for 10 reverse stock split, meaning if you previously owned 100 shares of Citigroup, you now owned just 10 and the price was adjusted upward accordingly. At yesterday's closing price of $38.51 (actually $3.85 if adjusted for the reverse stock split), Citigroup's long-term shareholders are still down 92 percent from where Weill bailed out of the stock in 2003.
Another man that became obscenely rich from Citigroup was Robert Rubin, the Treasury Secretary under the Bill Clinton administration who helped Citigroup advocate for the repeal of the Glass-Steagall Act. Without any meaningful cooling-off period, Rubin went straight from his government post to serve on the Board of Citigroup. Rubin received more than $120 million in compensation over the next eight years for his non-management job. And then there was Vikram Pandit, a hedge fund manager whom Robert Rubin selected to run the sprawling Citigroup. The Wall Street Journal reported that Pandit took home $221.5 million during his five years at Citigroup.
moar here
https://wallstreetonparade.com/2020/04/citigroup-an-admitted-felon-with-a-history-of-abusing-customers-is-handling-billions-from-the-stimulus-bill/
#8309073 at 2020-03-03 18:14:25 (UTC+1)
Q Research General #10637: Super BOOM Day Edition
At first, banks leveraged the repo market to force the Fed to ease liquidity & capital rules; now they leverage the coronavirus. Whatever it takes.
The largest bank lobbying group in the US, the Bank Policy Institute, is now leveraging the coronavirus to pressure the Fed to relax nettlesome banking regulations imposed on banks after the Financial Crisis. These regulations, particularly the liquidity and capital requirements, were imposed on banks in order to avoid a replay of the Financial Crisis.
BPI's lobbying piece, releases yesterday - "Actions the Fed Could Take in Response to COVID-19" - was authored by three people, including BPI CEO Gregory Baer, who'd been Managing Director and General Counsel for Corporate and Regulatory Law at JP Morgan Chase from 2010 through 2015, and Deputy General Counsel for Corporate Law at Bank of America from 2006 through 2010. Both banks were massively tangled up in the Financial Crisis.
BPI's bord is comprised of bank CEOs, including the CEOs of the four largest banks in the US: Jamie Dimon (CEO, JP Morgan), Brian Moynihan (CEO, Bank of America), Michael Corbat (CEO, Citigroup), and Charlie Scharf (CEO, Wells Fargo). And they can't stand the limits that bank regulations impose on them.
This comes just months after the biggest banks, spearheaded by JP Morgan, blamed the nettlesome liquidity requirements imposed on banks after the Financial Crisis for the repo market blowout. JP Morgan CEO Jamie Dimon admitted during the Q3 earnings call in October last year that JP Morgan could have lent to the repo market as repo rates were surging, and could have eased the problem, but refused to because of the liquidity requirements.
There have been allegations that the biggest banks purposefully refused to lend to the repo market in order to force the Fed to ease the liquidity regulations.
In its current attack, the BPI used the coronavirus outbreak as an explicit lever. Among several items that the BPI exhorted the Fed to change, were:
Easing liquidity requirements to "encourage banks to deploy their liquid assets...."
Easing capital requirements to "support the ability of banks to provide credit to the economy and be able to accommodate large amounts of deposit inflows in the event of a flight to safety."
And today, Better Markets - a non-profit founded after the Financial Crisis "to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again" - launched a blistering counter-attack, with a statement, titled "Wall Street Biggest Banks Shamelessly Trying to Use Coronavirus to Get Federal Reserve to Weaken Rules":
"It is shameless but not surprising, that Wall Street's biggest banks would use the coronavirus to attack the financial rules they have been trying to weaken for a decade, including weakening critically important capital and liquidity requirements.
"It is even less surprising that they would direct their request to their favorite regulators at the Federal Reserve, which secretly doled out trillions of dollars bailing out Wall Street in 2008-2009 with virtually no public transparency, oversight or accountability. That was great for Wall Street's biggest banks, but a disaster for Main Street and should not be repeated now.
"As the coronavirus-created uncertainty mounts and the possibly of financial deterioration increases, the worst thing anyone could do is reduce the biggest banks' ability to withstand a downturn or shock, which is exactly what Wall Street's biggest bank lobby group is arguing.
https://www.investmentwatchblog.com/at-first-banks-leveraged-the-repo-market-to-force-the-fed-to-ease-liquidity-now-they-leverage-the-coronavirus-whatever-it-takes/
#6619566 at 2019-05-29 19:09:25 (UTC+1)
Q Research General #8464: My Kingdom for a Baker Take Two Edition
Citi Joins JPMorgan in Warning of Second-Quarter Trading Slump
The two biggest trading houses on Wall Street are warning of a slump.
Citigroup Inc. said trading revenue has declined so far this quarter, joining JPMorgan Chase & Co. in reporting a downturn for the business. A burgeoning trade war, the U.K.'s planned exit from the European Union and escalating tension between the U.S. and Iran have weighed on market sentiment in recent weeks, according to Citigroup Chief Executive Officer Michael Corbat.
"Clearly, trading revenue and wallets right now are down," Corbat said Wednesday at a conference in New York. "In periods of uncertainty, things tend to become pretty muted."
Corbat declined to give specific figures about his firm's performance so far this quarter, saying Chief Financial Officer Mark Mason would give more details in coming weeks. JPMorgan CEO Jamie Dimon said Tuesday that his firm's trading revenue had declined 4% to 5% during the first two months of the second quarter, while noting that "the next month could dramatically change that."
Corbat also voiced some optimism for his firm's ability to improve results from its markets business. He said the company is focused on developing better ties between its trading and treasury-management units to improve the experience for corporate customers.
"We'll likely continue to take share," Corbat said. "We'll go up and down with the market. But I would expect that we should either match, or, probably more importantly, outperform over time."
Corbat also said Wall Street will begin to benefit as central banks around the world step back from quantitative easing, or bond buying to stimulate economic growth, because the policy change will create room for banks to step in and provide additional liquidity or financing.
https://www.bloomberg.com/markets/fixed-income
good luck with that last statement…spergs.
#6135851 at 2019-04-11 14:52:02 (UTC+1)
Q Research General #7846: Trust the Plan Edition
A major overhaul is underway at Citi's highest ranks as bank president Jamie Forese announces his retirement
Another management shakeup is underway at Citigroup, with a handful of key leaders departing or taking on new roles, including Citi president Jamie Forese.
Forese, a 34-year veteran of the bank and the head of the firm's Institutional Clients Group, is retiring, according to a memo from CEO Michael Corbat viewed by Business Insider. Paco Ybarra, currently his deputy and the head of markets and securities services, will take his place running the group.
Ybarra, a 32-year Citi veteran himself, will assume the position May 1, and Forese will stay through the summer to help with the transition.
After Ybarra's elevation, the markets division will be run by Citibank COO Carey Lathrop, and Andy Morton, global head of G10 Rates, Markets Treasury and Finance.
Other moves announced in the memo from Corbat:
Francisco Aristeguieta, CEO of Asia Pacific and member of the operating committee, is also leaving Citi effective April 19. He's pursuing an opportunity outside of banking.
Tim Monger, head of productivity, will replace Aristeguieta on an interim basis.
Mary McNiff, Citi's chief auditor, will become CEO of CBNA. She will also chair the Citi Business Practices Committee and manage global data aggregation and reporting.
Jessica Roos, chief auditor for the institutional clients group, will replace McNiff as chief auditor of Citi.
Bloomberg reported the changes earlier Thursday.
A major overhaul in the past year
These are just the latest in a wave of changes in Citi's highest ranks since activist investor ValueAct announced a $1.2 billion stake nearly one year ago. https://www.businessinsider.com/citi-jamie-forese-retires-2019-4
#4890522 at 2019-01-24 20:39:21 (UTC+1)
Q Research General #6243: The Senate Debate And Vote On The Wall And Opening Gov. Edition
Why Davos is talking about the fight between two absentees
DAVOS, Switzerland (Reuters) - The two most powerful men in the world are not in Davos this year, but they remain impossible to escape. In a sweeping speech at the World Economic Forum two years ago, President Xi Jinping argued that China was free trade's greatest champion. Any attempt to stop the flow of capital, technology, goods, industries or people between economies "is simply not possible," he said. Then in January last year, President Donald Trump arrived at the Swiss ski village to deliver his own "simple message: There has never been a better time to hire, to build, to invest and to grow in the United States. America is open for business." Washington was committed to free trade, he said. But "we cannot have free and open trade if some countries exploit the system at the expense of others." Neither leader mentioned their superpower rival. But it was clear that in setting out their boundaries for how global trade should work, they were talking to each other. If the last year is anything to go by, neither much listened. And the fallout from their falling out is why there's so much talk about Xi, Trump and trade at this year's Forum.
Carrie Lam, the Chief Executive of Hong Kong, told the audience at one session that some countries - she did not name which - were starting to pull away from the rules-based multilateral system built up over the past few decades. "If that is no longer the mainstream, we could be in trouble," she said. Kevin Sneader, Global Managing Partner at McKinsey & Company, said that trade was just "one aspect of a broader tension between the U.S. and China."
Already, the trade war between the two biggest economies in the world has begun to crimp global growth, to reshape supply chains and corporate planning, and to hit countries from Canada to Singapore. The International Monetary Fund trimmed its growth forecasts on the eve of this year's Davos meeting, while a survey showed increasing pessimism among business chiefs. In the real world, the effects have been felt for months. Take Foxconn (2354.TW), which assembles Apple (AAPL.O) iPhones in China but now says it is considering building factories in Vietnam and India to help mitigate any impact from the trade war. Or automakers, who are busy changing where they build certain models to account for increased tariffs. Or countries such as Australia, whose currency, winemakers and home owners are all feeling the chill of the economic battle. People want to know "how much has the economy slowed and from a trade perspective what are these tariffs and what impact are the trade discussions really having," said Citigroup CEO Michael Corbat in an interview with Reuters.
https://www.reuters.com/article/us-davos-meeting-trump-xi-analysis/why-davos-is-talking-about-the-fight-between-two-absentees-idUSKCN1PH24S
#4443559 at 2018-12-23 23:33:34 (UTC+1)
Q Research General #5665: Is Mattis really comped? :/ Edition
Mnuchin Called Bank CEOs To Check Liquidity, Calm Markets; Has Monday Call With Plunge Protection Team
Profile picture for user Tyler Durden
by Tyler Durden
Sun, 12/23/2018 - 16:24
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Update: With everyone suddenly freaking out over whether (and why) Mnuchin really made the kind of "liquidity test" call to bank CEOs that was reserved for the depth of the financial crisis, moments ago Mnuchin himself tweeted out details of his Sunday call (from Cabo), the gist of which is that Mnuchin was checking bank liquidity levels for "loans and other market operations" with the CEOs of the 6 largest banks, and even more importantly, on Monday Mnuchin will hold a call with the President's Working Group on Financial Markets, better known as the Plunge Protection Team.
In other words, Monday's half-day session is about to get a lot more turbulent.
The full text from Mnuchin's statement:
Secretary Mnuchin convened individual calls with the CEOs of the nation's six largest banks
The banks all confirmed ample liquidity is available for lending to consumer and business markets.
Washington - Secretary Mnuchin conducted a series of calls today with the CEOs of the nations six largest banks: Brian Moynihan, Bank of America; Michael Corbat, Citi; David Solomon, Goldman Sachs; Jamie Dimon, JP Morgan Chase, James Gorman, Morgan Stanley; Tim Sloan, Wells Fargo. The CEOs confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market operations. He also confirmed that they have not experienced any clearance or margin issues and that the markets continue to function properly.
Tomorrow, the Secretary will convene a call with the President's Working Group on financial markets, which he chairs. This includes the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, and the Commodities Futures Trading Commission. He has also invited the office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to participate as well. These key regulators will discuss coordination efforts to assure normal market operations.
"We continue to see strong economic growth in the U.S. economy with robust activity from consumers and business," stated Secretary Mnuchin and added "With the govemment shutdown, Treasury will have critical employees to maintain its core operations at Fiscal Services, IRS, and other critical functions within the department
full article here
https://www.zerohedge.com/news/2018-12-23/plunge-protector-mnuchin-reportedly-called-bank-ceos-calm-markets-ahead-monday-open
#4442959 at 2018-12-23 22:33:44 (UTC+1)
Q Research General #5664: No anon is lonely when you have a WW patriot fam this big Edition
>>4442927
Mnuchin spoke with J.P. Morgan Chase CEO Jamie Dimon, Bank of America's Brian Moynihan, Goldman Sachs' David Solomon, Morgan Stanley's Jamie Gorman, Tim Sloan of Wells Fargo and Michael Corbat of Citigroup.
"We continue to see strong economic growth in the U.S. economy with robust activity from consumers and business," said Secretary Mnuchin in the statement.
Mnuchin is dealing with several issues facing investors and the financial system right now:
A stock market sell-off that pushed the Dow Jones Industrial Average last week to its worst drop in 10 years. The S&P 500 is 17.8 percent from its record, almost a bear market.
A president furious with the Federal Reserve chairman for raising interest rates amid the equity decline. So frustrated is President Trump that he reportedly has discussed firing Fed Chair Jerome Powell. Mnuchin sought to quell the firestorm from those reports this weekend.
A government shutdown that will apparently drag on through at least Thursday.
https://www.cnbc.com/2018/12/23/treasury-secretary-mnuchin-held-calls-with-the-ceos-of-major-banks-to-discuss-the-market-turmoil.html
Full statement:
The banks all confirmed ample liquidity is available for lending to consumer and business markets.
Washington - Secretary Mnuchin conducted a series of calls today with the CEOs of the nations six largest banks: Brian Moynihan, Bank of America; Michael Corbat, Citi; David Solomon, Goldman Sachs; Jamie Dimon, JP Morgan Chase, James Gorman, Morgan Stanley; Tim Sloan, Wells Fargo. The CEOs confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market operations. He also confirmed that they have not experienced any clearance or margin issues and that the markets continue to function properly.
Tomorrow, the Secretary will convene a call with the President's Working Group on financial markets, which he chairs. This includes the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, and the Commodities Futures Trading Commission. He has also invited the office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to participate as well. These key regulators will discuss coordination efforts to assure normal market operations.
"We continue to see strong economic growth in the U.S. economy with robust activity from consumers and business," stated Secretary Mnuchin and added "With the government shutdown, Treasury will have critical employees to maintain its core operations at Fiscal Services, IRS, and other critical functions within the department."
8kun Midnight Riders Posts (2)
#42912 at 2021-01-15 20:27:14 (UTC+1)
QR Midnight Riders #198: Can You Feel Their Panic! Edition
Gloomy outlook hits Citi shares despite quarterly profit beat
Citigroup Inc reported quarterly profit that beat market expectations on Friday, but a downbeat revenue and expense outlook showed it will take more than a year for the emerging economic recovery to trickle through to the bank's bottom line. Bets on an economic recovery hinged on coronavirus vaccine roll outs and massive fiscal stimulus allowed Citi to release $1.5 billion from its reserves that it had previously set aside for sour loans, boosting results.
Same ole, Same ole'
Finance chief Mark Mason warned that the revenue the bank earns from lending activities could fall more than 4% this year as the bank contends with the rock-bottom interest rates monetary authorities are holding in place to prop up the economy.
Citi's revenue slid 10% in the last quarter of 2020, driven by declines in its consumer bank as customers borrowed less and paid down more debt. Fees in the North American branded cards business, once the growth engine of the consumer bank, tumbled 13%. Trading remained a bright spot defying concerns that the breakneck growth in trading revenue seen throughout 2020 was unsustainable.
Equities fees jumped 57% from last year and fixed-income fees grew 7%, but the bump was not enough to offset interest-related revenue declines during the quarter. Citi shares fell 5.4% to $65.32 as the bank reported a 7% decline in profit even as its peers JPMorgan and Wells Fargo & Co posted growth in the fourth quarter.
exactly the same way-loan-loss reserves applied to earned income.
Expenses rose 2% as the bank spent more to address its risk and controls after being sanctioned by regulators last year for failing to address years long deficiencies.
Citi's finance head Mark Mason also said the bank's expenses would rise again in 2021 in the range of 2% to 3% this year, further pressuring its operating margins. Incoming CEO Jane Fraser, who will officially take over next month, told analysts on a call that she was "determined" to address the deficiencies in its risk and control environment that have been raised by regulators and encouraging analysts skeptical that things would be different under her tenure to hold her accountable.
In all, the bank profit of $4.63 billion, or $2.08 a share, down from $5 billion, or $2.15 a share, a year earlier. Analysts on average had expected profit of $1.34 per share, according to Refinitiv data. Total loans fell 3% to $676 billion, while deposits rose 20% to $1.3 trillion as customers, faced with economic uncertainties, borrowed less and saved more.
Outgoing CEO Michael Corbat said the bank intended to resume share buybacks in the first quarter, after receiving a green light from regulators last month. It has a capacity to buyback shares worth $1.8 billion in the first quarter, Mason said.
further boosting it's results in-organically
https://www.reuters.com/article/us-citigroup-results/citigroup-profit-beats-but-shares-dip-on-higher-costs-weak-revenue-idUSKBN29K1K7
#36897 at 2021-01-06 22:02:41 (UTC+1)
QR Midnight Riders #169: Turning PQint In History Edition
Jamie Dimon, other business leaders, call for Trump to halt violence
J.P. Morgan Chase CEO Jamie Dimon and other American business leaders called for an end to the violence at the Capitol and asked President Donald Trump and others to step up.
The head of the biggest bank by assets in the U.S. issued a statement condemning the situation in Washington, where thousands of the president's supporters charged the Capitol and remained there through the afternoon Wednesday.
"I strongly condemn the violence in our nation's capital. This is not who we are as a people or a country," Dimon said in a statement. "We are better than this. Our elected leaders have a responsibility to call for an end to the violence, accept the results, and, as our democracy has for hundreds of years, support the peaceful transition of power." While Dimon's statement did not specifically mention the president, remarks from the Business Roundtable, a group of executives to which he belongs and has led, did call specifically on Trump step in.
"The chaos unfolding in the nation's capital is the result of unlawful efforts to overturn the legitimate results of a democratic election," the organization said. "The country deserves better. Business Roundtable calls on the President and all relevant officials to put an end to the chaos and to facilitate the peaceful transition of power."
Later in the day, Trump did make a statement asking for order.
However, it accompanied more unsubstantiated claims from the president about an election he claims was stolen from him. Trump's supporters have filed some 60 lawsuits claiming fraud and lost all but one.
Earlier in the day, members of Congress debated challenges brought against individual states as the election certification process moved forward.
"You have to go home now. We have to have peace," Trump said in the statement released on his Twitter account. "We have to respect our great people in law and order. We don't want anybody hurt."
Citigroup CEO Michael Corbat also weighed in, saying he was "disgusted" by the protests at the Capital but expressed hope for a peaceful resolution.
"While these scenes are very difficult to watch, I have faith in our democratic process and know that the important work of Congress will continue and that people will be held accountable for their actions," he said in a statement. "I pray this situation can be resolved without further bloodshed."
https://www.cnbc.com/2021/01/06/jamie-dimon-other-business-leaders-call-for-trump-to-halt-violence.html
Really Nigga?? I mean REALLY NIGGA!!!!
How long have your institutions fucked with us??
Fuck you "Jamie"
8chan/8kun QRB Posts (1)
#122195 at 2022-01-20 21:42:53 (UTC+1)
QRB General #830: CS Is Owned Edition
>>122194
2 of 2
As it turns out, the bulk of Citibank's deposits were foreign and a large part of those deposits were not insured or had low insurance amounts. Had this foreign money decided to run for the exits on fear of a Citigroup collapse, the FDIC might have been looking at just a $125 billion problem but the rest of the financial system was looking at $2 trillion on the books of Citigroup, $1 trillion off the books, and God only knows how many trillions of dollars of derivative counterparty agreements lurking in the shadows. Bair indicates her belief that Citigroup's two main regulators, John Dugan (a former bank lobbyist) who headed the Office of the Comptroller of the Currency (OCC) and Tim Geithner, then President of the Federal Reserve Bank of New York, were not being forthright with the public on Citigroup's real condition.
Guess who is Chairman of the Board of Directors of Citigroup today? The same John Dugan. (You can't make this stuff up; it's simply too Orwellian for the human brain to assimilate, which is what the denizens of Wall Street are counting on.) The first hint that regulators were bearing down on Citigroup came when Citigroup's Board of Directors decided to cut its CEO's pay by $5 million from what it had been in 2019. Michael Corbat retired as CEO in February of last year, handing the reins to Jane Fraser, the first woman CEO of any major Wall Street bank.
The Board provided the following statement in an SEC filing to explain this drastic pay chuck for Corbat: "In determining executive incentive compensation awards, the Compensation Committee reduced Mr. Corbat's incentive compensation award based on its assessment of his performance in respect of risk and control concerns that underlie Consent Orders that were entered into during 2020 between Citi and the Federal Reserve Board and the Office of the Comptroller of the Currency, and to reflect a one-time shared responsibility adjustment which impacted the Executive Management Team for such concerns."
The actual situation was decidedly worse than the above paragraph suggests. On October 7, 2020, when the public was focused on the vice-presidential debate that evening between Kamala Harris and Mike Pence, the Federal Reserve and Office of the Comptroller of the Currency (OCC) announced consent decrees with Citigroup's Citibank, and levied a $400 million fine. The OCC's Consent Order was like nothing we have ever seen in our 35 years of monitoring Wall Street. Harsh penalties were threatened but the actual crimes or transgressions the bank had committed were not specified.
In a breathtaking sentence, the OCC reserved the right to order the firing of senior executive officers and "any and/or all members of the Board."
A bank regulator firing an entire Board of a megabank on Wall Street is unheard of. Something very serious must have transpired to unleash such a threat.
There was a clue in the Consent Order from the Federal Reserve about something that Citigroup might have done to earn the wrath of the Federal Reserve. The Consent Order referenced the statute 12 CFR 225.4(a) which includes a section on the Federal Reserve receiving "written notice" before the bank purchases or redeems its stock when those actions over the preceding 12 months would "equal 10 percent or more of the company's consolidated net worth." Bloomberg News had reported that over the prior three years, between dividends and stock buybacks, Citigroup had "returned almost twice as much money to its stockholders as it earned, according to the data, which includes dividends on preferred shares."
At the end of the third quarter of 2008, the year of the Wall Street crash and Citigroup's implosion, Citigroup's federally-insured bank, Citibank, was sitting on $35.6 trillion notional (face amount) in derivatives according to data from the OCC. (See Table 1 in the Appendix.) The OCC's most recent report for the quarter ending September 30, 2021 shows Citibank sitting on $44.37 trillion in notional derivatives. Not only was there no meaningful reform of Citigroup, but its risk profile actually increased. (See related articles below.)
If you genuinely want to save the United States from another economic and financial collapse, make the time today to call your Senators and House Rep in Washington and demand hearings on restoring the Glass-Steagall Act to separate federally-insured banks from the Wall Street casino.
https://wallstreetonparade.com/2022/01/is-citigroup-under-orders-from-its-regulators-to-break-itself-up/
8chan/8kun CBTS Posts (1)
#54401 at 2017-12-08 16:13:56 (UTC+1)
CBTS General #61 - Pensacola Edition
>>54349
Intel President Renee James ends 28-year career with chip giant
www.mercurynews.com/2015/07/02/intel-president-renee-james-ends-28-year-career-with-chip-giant/
Intel gets Qualcomm's Renduchintala
www.fudzilla.com/news/processors/39308-intel-gets-qualcomm-s-renduchintala/
Sabre Corporation elects Renee James to its Board of Directors
www.prnewswire.com/news-releases/sabre-corporation-elects-renee-james-to-its-board-of-directors-300120043.html
William S. Thompson, Jr. to Retire from Citi Board of Directors
>Following Mr. Thompson's retirement, the Citi Board will consist of 14 directors, including Ellen M. Costello, Duncan P. Hennes, Peter Blair Henry, Franz B. Humer, Renee J. James, Gene McQuade, Gary Reiner, Anthony M. Santomero, Diana L. Taylor, James S. Turley, Deborah C. Wright and Ernesto Zedillo, as well as Michael Corbat, Citi CEO, and Michael E. O'Neill, Chairman.
www.businesswire.com/news/home/20170719006296/en/William-S.-Thompson-Jr.-Retire-Citi-Board
Hillary Clinton Sketches Campaign Messages in Silicon Valley
www.nytimes.com/2015/02/25/us/politics/clinton-sketches-campaign-messages-in-silicon-valley.html
"Another speaker, Renee J. James, president of Intel Corporation, introduced Mrs. Clinton as a "modern-day suffragette.""