The 1998 mega-merger between banking giant Citicorp and insurer Travelers Group created the world’s biggest financial services company. But Citi’s share price plummeted and the group has been hit by a series of scandals. The FT looks at what went wrong and how the bank can turn itself around
#citigroup #citibank #travelersgroup #banks #finance #financialmarkets #markets
00:39 A series of scandals
04:44 The record merger
12:40 The fallen giant
14:33 The revamp
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It's really impressive how Citi shares plunged from $600 each to around $45… And it's not recovering
Citi was smart. Put a DEI woman ceo and stop getting all the hate while making the same mistakes.
I HAVE INCURRED SO MUCH LOSSES TO TRADE ON MY OWN,I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED.
It's quite simple why rates are climbing with rising imports and falling exports, the FED is obviously to be blamed for banking crisis. Something will eventually break if they keep the quantitative tightening and higher interest rates. Is this really a good time to have some savings in stocks?
what was that women angle all the sudden…
Citi still has the worst IT amongst all US banks, both front end and back end. The result of “old school” leadership that doesn’t know anything about technology and in turn drives valuable customers away.
One bafoon after another running Citi over recent decades.
Citi also tells the story of USA…..
As american businesses retreated across the world ….Citi would follow them.
The rise of local banks or Asian banks shows that they are better in running local banks compared to Citi.
Citi used to be the best bank in South East Asia…..now it had just sold out.
Last time I buy many American products…..now I hardly buy American products except for Apple ( made in China).
America is retreating back to USA….where Trump will protect the local companies with tariffs.
The poor are suffering as their basic goods prices have shot up with the tariffs.
More homelessness expected.
Women always have to clean up the balance sheet,when a man has made mess🤷♀️❤️🌹👀
Monopolistic policies and globalization hs been disastrous in more ways than one.
The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.
More like Shittibank
A monopoly.
The banking sector breaks laws all the time, though no one goes to prison.
Weill saw himself as a genius. Would investors agree ? He pushed Dimon out .
Overall, 51% of investors think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025
Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring…managed to grow a nest egg of around 200k to a decent 632k in the space of a few months… I'm especially grateful to Craig Reeder, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Homer Simpson must be running the back room at Citi. Doh !
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains.
Sandy Weill and John Reed were about as culturally different from each other as two people could possibly be. You're talking Wall Street versus Park Avenue, downtown versus uptown, really different. When I read that they would be co-CEOs, I just thought, "that can't possibly last long." Reed was gone in short order.
Yes!! When anything beyond certain amount gets transferred, it’s always, and I mean always gets double checked. Sometimes with pre-approval basis. So, no possibility of getting screwed with such an amount erroneously transferred. Now; if anyone wants to cook a “duck roast” – an additional “zero” could be inserted later. But then again; such record can be checked for potential espionage.
I work in Citi in the consumer banking side of things, and the technology side is so bad and outdated it’s frustrating.
Loved the presentation. Learnt a lot about Citi's history and got a better sense of why it stands where it stands today.
Somehow people see SoFi makeing the exact same mistakes as Citi and tell themselves, "I want to invest in SoFi". We never learn.
Now I really understand why Citi has gotten problems.
Interview a Wells Fargo guy? how bout a piece on them illegally opening unsuspecting victims accounts without their knowledge or consent
That music goes with stunning beginnings of next starting . This is where you needed the brilliance of Jamie Dimon !!.
Citi Bank is the only USA branch here in my east African country. I came to the internet to research if i should open an account with them
If the 2008 crisis and others clearly demonstrate, we NEED LEGISLATION to prevent subprime mortgages and other high risk rubbish these banking spivs are fooling around with.
Nice report BUT could you please stop jumping from one person to another like some hyperactive frog jumping from one lilly pad to another.
Hard to watch FT documentaries. Way too many cuts to specialists. The more the merrier right? Wrong. Too chaotic.
Love this kind of content – very interesting. Thanks.
لا بدل بدينك في مال اعلانات بينات انا اسلام طلب بنستيحة ديمقراطية والحسب رببلكان الدولة الاكبروي في العالم اين الدول اربا لا بدل بشريعة اسلامية انا رضا ومستعد ومتاكد الان لينصرني بدين اسلامية والشرع الاميركي
People hate not using medical topic subject words in non medical industries conversations.
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