Jane Fraser to become Citi CEO; 1st woman to lead major bank

By KEN SWEETSeptember 10, 2020 GMT

NEW YORK (AP) — Citigroup's Jane Fraser will become the first woman to ever lead a Wall Street bank when she succeeds CEO Michael Corbat in February.

Investment banking gains drives Citi’s quarterly results

By KEN SWEETOctober 12, 2017 GMT

NEW YORK (AP) — Financial conglomerate Citigroup said its third-quarter profits increased 8 percent from a year earlier, helped by a boost in its investment banking division.

Citigroup said it earned $4.13 billion, or $1.42 per share, compared with a profit of $3.84 billion, or $1.24 per share, in the same period a year earlier. The results beat analysts' expectations, who were looking for $1.32 per share, according to FactSet.

Citigroup’s profits rise, helped by trading business

By KEN SWEETApril 13, 2017 GMT

NEW YORK (AP) — Citigroup reported a first quarter profit that beat analysts' expectation Thursday. Like its competitors, Citi benefited from higher trading revenue and interest rates.

The New York-based bank said it earned $4.1 billion, or $1.35 a share, compared with $3.5 billion, or $1.10 a share, in the same period a year earlier. Analysts were looking for Citi to earn $1.23 a share, according to FactSet.

Citigroup CEO Corbat takes home $15.5 million for 2016

By KEN SWEETFebruary 17, 2017 GMT

NEW YORK (AP) — Citigroup's board of directors is awarding CEO Michael Corbat a pay package worth $15.5 million for 2016, down from $16.5 million in 2015.

Citi's board said Friday that in addition to his $1.5 million base salary, Corbat will receive $4.2 million in cash and $9.8 million in stock awards. The board said the pay package reflects Corbat's progress to shrink and restructure Citi following the financial crisis.

Citigroup’s profit falls 17 percent, still beats forecasts

By KEN SWEETJuly 15, 2016 GMT

NEW YORK (AP) — Citigroup's earnings fell 17 percent in the second quarter, hurt by weak results in consumer banking as interest rates remain extremely low, making lending less profitable. The results still beat analysts' forecasts, however.

The New York-based financial conglomerate said it earned net income of $4 billion on Friday, or $1.25 per share, compared with $4.85 billion, or $1.51 per share, in the same period the year earlier. The results beat the $1.10 per...