What did Citigroup do with its Series W preferred stock?

Citigroup redeemed all US$1.50 billion of its 4.000% Fixed Rate Reset Noncumulative Preferred Stock Series W.

How is Citigroup strengthening its business operations?

Citigroup is making strategic leadership hires in areas like Japan equity capital markets and prime services to enhance its institutional and capital markets franchises.

What is Citigroup's projected revenue and earnings by 2028?

Citigroup's narrative projects US$88.8 billion in revenue and US$17.2 billion in earnings by 2028.

Home / Business and Economy / Citigroup's Strategic Shifts: Funding and Hires

Citigroup's Strategic Shifts: Funding and Hires

8 Dec

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Summary

Citigroup redeemed US$1.50 billion of Series W preferred stock.
New leadership hires aim to bolster prime services and capital markets.
The bank targets improved capital efficiency amid restructuring.

Citigroup's Strategic Shifts: Funding and Hires

Citigroup recently redeemed US$1.50 billion of its Series W preferred stock, initiating a strategic reshuffle of its funding structure. This move is part of a broader effort to adjust its capital mix, complemented by the issuance of new callable senior unsecured notes and zero-coupon debt.

The financial institution is also enhancing its operational capabilities through targeted leadership appointments. Notably, new hires in Japan's equity capital markets and prime services are intended to sharpen its global institutional and capital markets franchises, aiming to boost fee income and trading-related businesses.

These balance sheet adjustments and operational enhancements feed into Citigroup's short-term goal of improving capital efficiency. However, the success of these initiatives hinges significantly on the bank's execution of its complex restructuring and regulatory remediation plans, which remain a key near-term risk.