International Banks

Citigroup to shutter municipal business as CEO Fraser’s overhaul continues

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Citigroup to shutter municipal business as CEO Fraser’s overhaul continues

Citigroup is shutting down its municipal business, a move that will affect around 100 employees, as the bank continues to overhaul its business under an reorg by chief executive, Jane Fraser. The bank has decided that the unit is “no longer viable given our commitment to increase the firm’s overall returns”, according to a memo … Read more

Paris won the race for banking jobs after Brexit. What’s next?

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Paris won the race for banking jobs after Brexit. What’s next?

Frankfurt was ready to celebrate. Only a year after the 2016 Brexit referendum, the vast majority of US banks had set up their EU hubs in the German city. International school places were being block-booked ahead of relocations from the UK and property prices were rocketing. But the French government had other ideas. Emmanuel Macron, victorious … Read more