Citi Completes Split of Mexico Business Ahead of Banamex IPO
The move to split Grupo Financiero Citi México from Grupo Financiero Banamex is part of Citi's sweeping overhaul under CEO Jane Fraser aimed at simplifying its sprawling structure as it looks to improve the bank's performance.
Citi separates Mexico retail ops from institutional business
The move sets up the bank to spin off Banamex in an IPO, as planned. The timing of that will depend on regulatory approval, but the bank has long targeted next year.
Citi Completes Banamex Split, Paving the Way for a 2025 IPO Across Mexico and Wall Street
Citigroup has officially separated Banamex from its institutional banking arm, accelerating plans for a 2025 dual IPO. With listings in Mexico City and New York under consideration, this move reflects Citis ongoing push
Citi completes split of Mexico business; NatWest may return to full private ownership in 2025
Citi in May last year abandoned a $7bn sale of Banamex to Grupo México, opting for an IPO after negotiations stalled. Banamex, which serves 20mn clients via 1,300 branches, is expected to list by 2025.
Citigroup Completes Separation Of Banamex
Monday said it has completed the separation of Banamex from its institutional banking business in Mexico. With
Citigroup Nears Banamex Spin-Off Amid Organizational Overhaul
Citigroup, Inc. C is nearing spinning off its consumer, small business and middle-market banking operations in Mexico — Banco Nacional de México (“Banamex”). The news was reported by the Wall Street Journal.
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Merger activity is down 40% from its peak. Citigroup CEO Jane Fraser sees a ‘big unlock’ ahead.
‘We’re seeing the big unlock with M&A …. It’s going to be pretty active.’ — Citigroup Chief Executive Jane Fraser That’s ...
A Simpler Citigroup Begins to Take Shape
CEO Jane Fraser is moving closer to a spinoff of Mexican consumer bank Banamex.
Citigroup slashes banker promotions in cost-cutting drive: report
Just 2,000 Citi employees can look forward to an early Christmas present of a pay raise and a more senior title, down from ...
Citigroup nears Mexican consumer bank spinoff, WSJ reports
Citigroup is close to spinning off its Mexican consumer bank Banamex, an important part of CEO Jane Fraser's bank overhaul ...
Citigroup: Q3 Performance Justify Fair Value
Citi's valuation metrics indicate a mixed picture: a high P/E ratio suggests accounting risks, but a low P/B ratio offers a ...
Citigroup CEO Fraser meets Chinese vice-premier, Shanghai mayor as Beijing touts reforms
China's Vice-Premier He Lifeng met Citigroup CEO Jane Fraser in Beijing on Thursday, underscoring efforts to open up the ...