Lawmakers Grill Citigroup Japan Chief
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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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Video service execs will meet with Japanese entertainment industry to discuss concerns.
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Citigroup, the financial giant, is expected to announce an offer to increase its stake in the scandal-tainted Japanese brokerage company the Nikko Cordial Corporation, said a Nikko spokesman, Shigeyuki Teshima. The potential $5 billion deal would mark Citigroupâs resurgence in Japan. Nikko Cordial faces a delisting from the Tokyo stock exchange because of an accounting scandal. According to media reports, the talks are aimed at Citigroup raising its stake in Nikko to above 50 percent, from under 5 percent. A Citigroup spokeswoman, Atsuko Yoshitsugu, declined to comment.
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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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Citigroup Inc.  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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Charles O. Prince, the chief executive of Citigroup, is on a campaign to revamp the banking giant's culture after a financial scandal in Japan tainted its reputation.
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NEW YORK, Dec. 11 -- Citigroup on Tuesday named Vikram Pandit, a Wall Street veteran versed in arcane areas of the credit market, as its chief executive.
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The largest faction in Japan&#39;s ruling party plunged into a crisis over a funding scandal on Monday as speculation mounted that prosecutors were about to question a former prime minister who had led the group.
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Citigroup  plans to boost the number of its branch locations in Japan by 40 percent to about 200, including those of recently acquired brokerage Nikko Cordial Corp. , as the financial firm looks to move beyond a niche role in the world's second-largest economy.
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The staff of the U.S. Securities and  Exchange Commission is considering recommending a civil  injunction and/or administrative proceedings against Citigroup  Asset Management, Citicorp Trust Bank, former asset management  unit Chief Executive Thomas Jones and three other people,  Citigroup C.N said on Friday.
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Citigroup Inc. (CN: Quote, Profile, Research) on Friday said US securities regulators are thinking of recommending enforcement proceedings against the former head of Citigroup Global Investment Management.
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Citigroup Inc. on Friday said US securities regulators are thinking of recommending enforcement proceedings against the former head of Citigroup Global Investment Management.
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Japan on Friday ordered Citigroup Inc. (CN: Quote, Profile, Research) to close its Japanese private banking offices after uncovering a series of
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TOKYO/NEW YORK  - Japan on Friday ordered  Citigroup Inc. C.N to close its Japanese private banking  offices after uncovering a series of problems, including  failing to prevent suspected money laundering.
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U.S. Congresswoman Marcy Kaptur came to a House committee hearing on Thursday prepared to ask U.S. Treasury Secretary Henry Paulson tough questions about his involvement in the subprime mortgage crisis.
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Citigroup, which recently acquired a majority stake in the Nikko Cordial Corporation, said Brandon Ginsberg had resigned as co-head of equities at its Japanese investment bank. Mr. Ginsberg has already left, said Masufumi Yoshino, head of corporate communications at Nikko Citigroup in Tokyo. No further details were available. The departure is the second change of senior managers at the unit since Citigroup bought 61 percent in April.
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U.S. securities regulators may  recommend enforcement action against the former head of  Citigroup Global Investment Management for his role in  activities under investigation at the company's mutual fund  unit, the No. 1 financial services firm said on Friday.