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“#Citigroup requiring COVID vaccines for returning staffers” Citigroup is requiring its employees to get vaccinated against the coronavirus before stepping foot inside any of its major offices. In a memo to its staff on Tuesday, the Big Apple bank run by CEO Jane Fraser told employees that they must be fully vaccinated before taking part…
“#Morgan Stanley hikes starting pay for junior bankers to $100K” Morgan Stanley said it will start paying six-figure base salaries to its entry-level bankers as a rush of post-pandemic deals and short staffing have spurred crushing workloads. The Wall Street behemoth announced the $15,000 raise on Wednesday: First year analysts in investment banking and capital…
“#Citigroup urges longer freeze over botched Revlon payment” Citigroup on Friday urged a federal judge to extend a freeze on $504 million of its own money that it mistakenly sent a group of Revlon lenders. The bank requested an injunction from Manhattan Federal Judge Jesse Furman, who on Feb. 16 said 10 asset managers could…
“#Citigroup CEO Jane Fraser bans Zoom calls on Fridays” Citigroup has banned internal Zoom calls on Fridays in an effort to stop staffers from running themselves ragged while they work from home. Jane Fraser, the megabank’s newly minted CEO, announced the “Zoom-Free Fridays” policy in a company memo alongside other measures aimed at addressing “the…
“#Citigroup can’t recoup $500M paid to Revlon lenders: judge” Oops! Can we get that $900 million back? A federal judge on Tuesday refused to let Citigroup claw back the millions it says it accidentally paid lenders of cosmetic seller Revlon last August tied to a loan due in 2023. Despite calling the nearly $1 billion gaffe…
“#Citigroup urges return of mistaken Revlon payment as trial ends” Citigroup Inc made a final push on Wednesday to persuade a federal judge to force lenders of Revlon Inc to return half a billion dollars of its own money that it mistakenly sent them. At the conclusion of a six-day non-jury trial, US District Judge…
“#Citigroup defends actions at trial over $900M Revlon blunder” Citigroup went to trial Wednesday to try to recoup a half-billion dollars it claims is still due after it accidentally used nearly $900 million of its own money to repay lenders of Revlon, the struggling cosmetics company. The unusual case in Manhattan federal court could provide…
“#Citigroup fined $400 million over ‘longstanding’ failures” The feds slapped Citigroup with a $400 million fine after finding “serious and longstanding deficiencies” in the megabank’s internal practices. Regulators on Wednesday ordered Citi to fix its faulty risk management systems, data governance and internal controls in addition to the hefty penalty based on its “unsafe or…
“#JPMorgan pledges $30 billion to narrow the racial wealth gap” Jamie Dimon is setting aside $30 billion of JPMorgan Chase’s money to help narrow the racial wealth gap in America. The CEO of the nation’s largest bank announced on Thursday that the bank will use the unprecedented sum over the next five years toward efforts…
“#Goldman Sachs cutting jobs despite vow to freeze layoffs in 2020” Pandemic or no pandemic, there will be blood at Goldman Sachs. The Wall Street giant headed by David Solomon is moving forward with a plan to slash about 400 jobs — despite pledging earlier this year that the firm would freeze layoffs in the…