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Also in today’s newsletter, one solar company thinks it has what it takes to go public — despite a down market for the sector
A detailed taxonomy of management company rationales for this weird Wall Street anomaly
Vis Raghavan is quitting the world’s top investment banking franchise for the highest-profile vacancy on Wall Street
Plus, private equity takes advantage of the money pouring into credit and Sequoia’s internal drama
Vis Raghavan to be Citi’s new head of banking
Salary and bonus rise a combined 6% despite 40% decline in profits at bank in 2023
Plus, the Body Shop faces a financial cleanse and Japan inks a giant semiconductor deal
Wall Street bank’s efforts to jump-start wealth management business have proved unpopular with some staff
Currency has climbed nearly 3% this year, handing losses to speculators positioned for a decline
Bond will fund recycling projects in Ghana and Indonesia that generate offset credits
Spread between Italian and German debt narrows as traditional core-periphery dividing lines fade
Conditions have changed since the lender applied for an investment banking licence and its Wall Street rivals are struggling
Biggest lenders optimistic about economic outlook despite higher interest rates
Bank reports $1.8bn fourth-quarter loss after taking $4bn in one-off charges
Relationship status: it’s complicated
US lender’s move comes as rivals become more cautious in second-largest economy
‘We disagree with the many investors who say that Citi is unmanageable, unquantifiable, and/or un-investable’
US bank does have a bright spot in its services unit
Plus, Signa signals concerns in Europe and professionals take burner phones to Hong Kong
As law firm partner pay has soared, so has their desirability as clients for private bankers
Why Citi has struggled to recover from its 1998 mega-merger
Plus, a clash of corporate titans in Japan
Shiti just got real
Chief executive Jane Fraser’s overhaul of Wall Street bank could result in thousands of job cuts
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