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Citi Philippines: Consumer banking ops, ATMs, call centers, offices to continue for the meantime

By TED CORDERO, GMA News
Published April 20, 2021 2:04pm
Citi Philippines, the local arm of American banking giant Citigroup, on Tuesday assured its customers that its consumer banking operations in the country will continue for the time being amid its parent’s plan to wind down consumer banking franchises in 13 countries, including the Philippines.
In a statement, Citi Philippines said that its consumer business operations and offices “will continue to operate normally with the same dedication and passion to serve and support clients.”
“We would like to convey to all credit card, bank account holders and our customers in investments and loans that all our existing products and services will continue normally and there will be no change in our high level of service,” said Citi Philippines Consumer Business head Manoj Varma. ....

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Citigroup announces consumer banking exit from PH, 12 other countries

Citigroup announces consumer banking exit from PH, 12 other countries
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Metro Manila (CNN Philippines, April 16) Citigroup will be bowing out of its consumer banking operations in the Philippines, it announced Thursday.
The New York-based banking giant confirmed the move in a press release, wherein it discussed “strategic actions” that will allow it to channel investments and resources to businesses with the greatest scale and growth potential.
Apart from the Philippines, Citigroup will also exit from its consumer franchises in Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, Poland, Russia, Taiwan, Thailand and Vietnam.
“While the other 13 markets have excellent businesses, we don’t have the scale we need to compete,” said Citi chief executive officer Jane Fraser of the move. “We believe our capital, investment dollars and other resources are better deployed against higher returning opportunities ....

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People moves: facing the funds fallout music, CS changes chairs, and more

Risk.net
Latest job changes across the industry
Credit Suisse faces some tough choices as it absorbs the extraordinary losses inflicted by the Greensill and Archegos fund fiascos and subsequent ratings hit. On April 6, the firm announced an estimated pre-tax loss of approximately Sfr900 million ($963 million) for the first quarter, including a charge of Sfr4.4 billion ($4.7 billion) in respect of Archegos. At the same time, the firm announced that investment bank CEO
Brian Chin and chief risk and compliance officer
Lara Warner were stepping down from their roles with immediate effect.
Christian Meissner, co-head of wealth management banking advisory and vice-chair of investment banking, will replace Chin in May. Meissner was previously head of global corporate and investment banking at Bank of America Merrill Lynch, and earlier co-CEO for EMEA at Lehman Brothers. ....

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Citi named World's Best Digital Bank 2020 by Global Finance Magazine

Naveed Sultan, Chairman, Citi’s Institutional Clients Group.
Citi has been named the World’s Best Digital Bank by Global Finance Magazine for the 19th consecutive year.
In addition to the global recognition, Citi was named Best Digital Corporate/Institutional Bank in Latin America.
“We continue to build a financial platform for digital commerce, and have been transforming our solutions over the last several years to provide a better client experience that is fast, easy, and flexible,” said Naveed Sultan, Chairman, Citi’s Institutional Clients Group.
“These digitization efforts were a critical enabler for our clients’ continuity of business in 2020. In a world that is highly digitized, the power of our digital services contributed significantly to our clients’ success. More than ever it is imperative that Citi– as their banking partner – deploy the latest in data science and digital technologies to provide clients with fully digit ....

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