Citigroup's Japan boss apologies
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Citigroup's top Japanese executive faces tough questioning over a scandal that caused the closure of the firm's private bank in Japan.
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Citigroup's top executive in Japan endured unprecedented questioning by lawmakers on Tuesday over a scandal at the firm's private bank in the country, the latest turn in a high-profile case that has embarrassed the world's biggest financial company.
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TOKYO  - Japanese financial authorities announced Friday they would shut down Citibank's private banking business in the country after finding "severe legal violations" in its operations.
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NEW YORK - Citigroup Inc has forced three senior executives to leave the company in connection with a scandal involving its private-banking operations in Japan, US media reported Tuesday.
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Japan's outspoken foreign minister apologized Friday for joking that "even people with Alzheimer's disease" would know the difference in price between Japanese and Chinese rice.
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Citigroup  is considering selling Nikko Cordial Corp's  principal finance arm if it acquires the scandal-hit Japanese brokerage group, the Nikkei business daily said on Sunday.
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The new chief executive of Citibank Japan apologized at a Parliament committee Tuesday and promised that misled customers will be compensated at its private-banking unit, where regulators have found violations.
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Japan's prime minister met and apologized on Tuesday to hepatitis patients at the centre of a high-profile scandal over tainted blood products as he tried to quell a row that risks further eroding his support ratings.
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Citigroup Inc. said Monday it will close down its trust banking unit in Japan within a year, after Japanese authorities ordered the US financial services giant to suspend its private banking business.
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Citigroup Inc. C.N on Friday said  U.S. securities regulators may recommend enforcement  proceedings against the former head of Citigroup Global  Investment Management.
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Citigroup&#39;s top executive in Japan endured unprecedented questioning by lawmakers on Tuesday over a scandal at the firm&#39;s private bank in the country, the latest turn in a high-profile case that has embarrassed the world&#39;s biggest
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Japan's financial regulator on Friday  ordered the Japanese commercial banking unit of Citigroup Inc.  to close four offices for violating banking laws.
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Three senior Citigroup Inc. C.N  executives are leaving the company, after being found partially  responsible for last month's forced closure of Citigroup's  private bank in Japan, a person familiar with the matter said.
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A Bank of Japan policy board member tried to soothe investors' nerves on Thursday, saying some market moves had been overdone, amid a new bout of tightness in short-term credit markets due to banks' growing risk aversion.
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Citigroup Inc. C.N on Friday said  U.S. securities regulators are thinking of recommending  enforcement proceedings against the former head of Citigroup  Global Investment Management.
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Japan's financial regulator may suspend  or even end some private banking operations at the Japanese  commercial banking unit of U.S. financial services firm  Citigroup Inc. due to lost customer data and questionable  securities transactions, local media said on Thursday.
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Citigroup (CN: Quote, Profile, Research) said on Monday it would shutter part of its Japanese trust business and promised sharper oversight of its remaining operations