Citigroup Stock News

Jefferies analyst Ken Usdin reiterated a buy rating on State Street Corp. on Wednesday and said the retention of 15% of Black Rock Inc.''s ETF servicing business is a positive for the company. State Street revealed in filings earlier this year that it would lose a chunk of its ETF servicing business from BlackRock. BlackRock has now finalized its new structure with Citigroup Inc. handling 40% of the $2.3 trillion ETF business, JPMorgan Chase & Co. handling 30%; also Bank of New York Mellon Corp. and State Street with 15% each. "We see this as a win for everyone, with the loss well-telegraphed for STT but the retention of 15% a positive, as are the new wins for the others in a fast-growing asset class," Usdin said. Usdin said Jefferies has already subtracted $150 million in revenue from its models, but the actual figure could be about $160 million given asset value growth. Shares of State Street fell 0.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.

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Citi Philippines announced on Wednesday that it has forged an agreement with Global Payments Inc. to bring back

Citigroup Inc. (NYSE:C) price closed higher on Tuesday, December 07, jumping 0.61% above its previous close. >> 7 Top Picks for the Post-Pandemic Economy > 7 Top Picks for the Post-Pandemic Economy

BlackRock anticipates decades of growth for iShares and the ETF industry,

BNY Mellon, Citi and JP Morgan to service BlackRocks ETF assets alongside incumbent custodian State Street as asset management giant diversifies its service providers. The post BlackRock splits ETF assets among the big four custodians dealing huge blow to State Street appeared first on Global Custodian The Leading quarterly magazine covering the international securities services industry .

Citigroup CEO Jane Fraser said on Tuesday that the bank will be expecting its clients to measure and communicate their emissions, and that climate impact may determine which clients it chooses to serve in the future. Speaking at The Wall Street Journals CEO Council Summit, Fraser said: We would be expecting of a client that [] The post Citi CEO Says Bank Will ask Clients to Measure Emissions, Climate Impact May Determine Which Clients to Serve appeared first on ESG Today .

Citi, acting through Citibank N.A., has been appointed by PAO Severstal ("Severstal") to act as successor depositary bank for its Global Depositary Receipt ("GDR") program. Severstal''s GDRs are li

Citi will tap into API Exchange''s (APIX) global ecosystem of fintech firms to swiftly identify solution partnerships and test them in a cloud-based sandbox before implementation. Citi will work with APIX to accelerate time to market of new solutions launched for the bank''s institutional clients, according to an announcement on Wednesday. The collaboration builds on their partnership for Citi''s Innovation Lab in Singapore, which has created five proof-of-concepts on the APIX platform in the trial stage. Better Solutions «Fintech partnerships are a key part of Citi Treasury and Trade Solutions'' broader innovation framework and they complement our extensive in-house innovation engagements. Our engagement with fintechs is significant and growing as we seek to introduce new and impactful solutions to our clients,» Rajesh Mehta , Asia Pacific Head, Treasury and Trade Solutions, Citi, said in the statement. APIX is a global cloud-based sandbox and marketplace for financial institutions and fintechs to collaborate and deploy solutions rapidly.

Citigroup has reportedly selected its preferred bidders for its consumer banking assets in Asia, has part of its broader plans announced earlier this year to exit retail markets where it lacks scale. Citi has chosen its preferred bidder for its consumer banking assets in various Asian markets including Thailand, Indonesia, Malaysia, China and the Philippines, according to a «Bloomberg» report citing unnamed sources. This is part of its plan announced in April this year to exit 13 retail markets including 10 in Asia Pacific. The National Australia Bank has been the first in the region to cut a deal, agreeing to buy Citis Australian consumer banking unit in a deal valued at around A$1.2 billion ($880 million). Southeast Asia Earlier this month, the Union Bank of the Philippines was reportedly selected as Citis preferred bidder for its Filipino consumer banking assets in a potential deal valued at around $1 billion. Elsewhere in Southeast Asia, the American banks top picks include Mitsubishi UFJ-owned Bank of Ayudhya for its Thai assets in an estimated $2 billion sale; UOB for its Indonesian assets in a potential multi-hundred million dollar deal; and Standard Chartered for its Malaysian assets in another multi-hundred million dollar sale.

SINGAPORE , Dec. 8, 2021 /PRNewswire/ -- Citi Singapore today announced that it has entered into a partnership agreement with API Exchange (APIX). The collaboration enables Citi to tap into a global ecosystem of FinTech firms and swiftly identify solution partnerships in a cost-efficient way and test them in a cloud-based sandbox before implementation. With the partnership, Citi expects speed of innovation to improve significantly, accelerating time to market of new solutions launched for Citi''s institutional clients. Having strong global presence across 96 markets also allows Citi to leverage its local counterparts to perform rapid proof-of-concepts with select FinTech partners, which will enable innovation at speed and scale. Citi first collaborated with APIX through its Citi Innovation Lab in Singapore , and it has assessed more than 80 FinTechs to solve the unique challenges of its institutional clients in areas such as Open Banking Solutions, Seamless Payments, Collections and Data Empowerment, among others.

NEW YORK--(BUSINESS WIRE)--BlackRock (NYSE: BLK) today announced that it has entered into agreements with BNY Mellon (NYSE: BK), Citi (NYSE: C), and JP Morgan (NYSE: JPM) to join State Street (NYSE: STT) as post-trade service providers for iShares $2.3 trillion in U.S.-domiciled exchanged traded funds (ETFs).1 The announcement culminates a nearly two year-long due diligence process with the selection of several world-class financial institutions to support the growth of U.S. iShares ETFs and s

American Express Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.), and Paypal Ventures are among investors in the latest funding round of crypto transaction monitoring and forensics platform TRM.

Citigroup Inc. will eventually expect borrowers to have a credible plan for measuring and reducing their carbon footprint as part of the banks pledge to achieve net-zero greenhouse-gas emissions.