Citigroup Inc. reports developments across a global banking franchise that serves corporations, governments, investors, institutions and individuals in more than 180 countries and jurisdictions. Recurring updates include quarterly results, financial data supplements, segment reporting changes and business activity in Services, Markets, Banking, Wealth and U.S. personal banking.
Citi news also covers capital actions such as common and preferred stock dividends, senior note tender offers and other debt-market transactions. Additional company updates include wealth-management programs, issuer services and depositary receipt mandates handled through Citibank N.A. and related Citi businesses.
Citigroup is set to release its fourth quarter results on January 14, 2022, at approximately 8:00 AM (ET). A live webcast and teleconference will follow at 11:00 AM (ET) to discuss the outcomes. Investors can access the press release, webcast, and additional materials via www.citigroup.com/citi/investor. The bank serves around 200 million customer accounts globally and operates in over 160 countries, offering a wide range of financial services including banking, credit, and wealth management.
Citi has been appointed by Accor to serve as the successor depositary bank for its Sponsored Level 1 American Depositary Receipt (ADR) programme. Accor's American Depositary Shares (ADS) trade on the OTC Market under ticker 'ACCYY', with each ordinary share represented by five ADSs. Dirk Jones from Citi expressed enthusiasm for enhancing Accor's investor outreach through their expertise in investor relations and global equity distribution.
Citi and Insigneo have signed a definitive agreement for Insigneo to acquire Citi International Financial Services, LLC and Citi Asesores de Inversion Uruguay S.A. The deal, pending regulatory approvals, involves both the Puerto Rico and Uruguay-based firms. As part of the agreement, Citi will retain existing banking relationships with wealth clients transitioning to Insigneo, which aims to enhance investment services. Insigneo currently manages over $13 billion in client assets, serving more than 13,000 clients worldwide.
Citi announced plans to hire over 100 employees for its global Internal Audit function, establishing Jacksonville, FL, and Wilmington, DE, as new strategic locations. This move aims to enhance Citi's operational capabilities by leveraging local talent and infrastructure. The Internal Audit team, comprised of over 2,000 professionals, conducts independent assessments of governance and risk management, ensuring safe and sound operations. Further details on open roles can be found at www.citicareers.com.
Citi has released a new report titled Global Supply Chains: The Complicated Road Back to 'Normal', analyzing the ongoing challenges in supply chains due to the COVID-19 pandemic. It highlights disruptions caused by factors such as increased demand for goods and macroeconomic stimuli. While pressures are stabilizing, significant improvements are lacking. The report suggests that corporates need to rethink their supply chains, focusing on digitization and local partnerships to better manage inventory and mitigate future shocks.
Citigroup Inc. has announced the complete redemption of €1,000,000,000 of its 0.500% Fixed Rate Notes due December 29, 2021. The redemption aligns with Citigroup's liability management strategy aimed at enhancing funding and capital efficiency. Investors will receive the cash redemption price, which includes par plus accrued interest. Post-redemption, these notes will cease to exist, and interest will no longer accrue. Citigroup remains open to future redemptions based on various financial factors.
Citi's Treasury and Trade Solutions has enhanced its Present and Pay platform for U.S. institutional billers, introducing new features like Citi Verify for real-time account validation and Request for Pay (RfP) messaging for e-bill distribution. These enhancements aim to improve the customer experience by allowing real-time payments and compliance with new regulations. With these capabilities, clients can streamline operations, access working capital, and provide consumers with greater payment flexibility. The initiative relies on partnerships with billing service providers, enhancing Citi's service offerings.
The Citi Foundation has announced $25 million in unrestricted grants for 50 nonprofit organizations through its Community Progress Makers initiative. Each selected organization will receive $500,000 to promote social and economic opportunity in underserved communities across six U.S. cities: Chicago, Los Angeles, Miami, New York City, San Francisco Bay Area, and Washington, D.C. This funding aims to address income inequality and enhance community support.
Citi Global Wealth Investments has released its Outlook 2022 report, which forecasts a normalization of economic conditions following the pandemic's strong recovery phase. The report emphasizes the need for investors to adjust portfolios by focusing on 'long-term leaders' in high-quality companies, suggesting potential for 8% earnings growth in 2022. Citi warns of risks including COVID-19 mutations and geopolitical tensions, while highlighting trends in digitization and economic shifts towards Asia. The report offers insights into maintaining wealth amid negative real interest rates.
Citi has expanded its Cross-Currency Sweeps cash management solution to 14 additional European countries, enhancing treasurers' ability to manage FX and cash positions across multiple currencies efficiently.
This service automates the conversion of available liquidity into the desired currency, facilitating same-day settlements and seamless fund movements. It aims to address manual processes in liquidity management, offering improved efficiency and transparent cash management strategies.