Citi Financial News

If you thought the battle for junior talent in banks was over, think again.

Mercedes Tallo is chief stakeholder officer at CDP

City workers changing jobs in the first quarter of the year have received a typical salary bump of 22% amid a fierce battle for talent across financial services.

Mercedes Tallo is chief stakeholder officer at CDP

Citigroup has named a new head of wealth management for Asia Pacific, as the New York-based bank continues its strategic pivot toward serving affluent clients in the region.

Check out the companies making headlines in midday trading.

RIYADH, Saudi Arabia — When Citigroup shut down operations in Saudi Arabia after 11 September 2001, government officials here felt betrayed. For years after, the Saudis snubbed Citi as executives realised they had made a mistake and tried to rebuild their business.

Tuesday’s report showing inflation accelerating to its highest annual rate in four decades is likely to maintain Federal Reserve officials’ ambition to rapidly raise interest rates to a neutral level that doesn’t stimulate the economy.

IPOs on the London Stock Exchange are off to a slow start this year, as high inflation and the war in Ukraine fuel uncertainty.

Citigroup has named a new head of wealth management for Asia Pacific, as the New York-based bank continues its strategic pivot toward serving affluent clients in the region.

Many U.S. cities were enjoying strong growth in the years leading up to the pandemic, with rents, hotel bookings, sale prices and tax collections rising as urban centers became popular with young workers and the businesses that wanted to hire them.

Cryptocurrency exchange Binance has obtained a provisional green light from Abu Dhabi regulators, deepening its expansion in the Middle East.

Law firm promotion season was in full swing this week.

If modern financial regulation was just about rhetoric and symbolic gestures, the City could hardly fault the current government.

RIYADH, Saudi Arabia — When Citigroup shut down operations in Saudi Arabia after 11 September 2001, government officials here felt betrayed. For years after, the Saudis snubbed Citi as executives realised they had made a mistake and tried to rebuild their business.

SINGAPORE—Inflation in China picked up in March as soaring global commodity prices and lockdowns in major cities drove up prices for consumers and businesses.

IPOs on the London Stock Exchange are off to a slow start this year, as high inflation and the war in Ukraine fuel uncertainty.

Law firm promotion season was in full swing this week.

Ruari Fairbairns is a former broker and co-founder of One Year No Beer

Law firm promotion season was in full swing this week.

Since Facebook rebranded as Meta last year, the concept of the Metaverse has taken a giant stride, with firms, including many in financial services, scrambling to understand how the impending move to a more virtual world will impact the economy and their business.In a 186 page report, called 'Metaverse and Money, Decrypting the Future', Citi has dived into the subject, looking at everything from in-game tokens, to crypto, stablecoins, CBDCs and fiat currency.A device-agnostic Metaverse that involves use cases such as commerce, art, media, advertising, healthcare and social collaboration could see a total addressable market of between $8 trillion and $13 trillion by 2030, estimates the report.This huge market will require a different way of looking at money, says Citi: "The definition of what counts as money in the Open Metaverse is also likely to be very different from what counts as money in the real world today. "Interoperability and seamless exchange between underlying blockchain technology are critical to ensure a frictionless user experience.