Citigroup Inc. (NYSE:C) has entered into a new deal with hedge fund firm Spartus Capital Management.

Citigroup Inc. Signs Hedge Fund Deal

Under this new deal, Citigroup Inc. (NYSE:C) will deliver hedge fund middle office services to Spartus Capital Management.

Bob Wallace, North America Head of Securities and Fund Services, Citigroup Inc. (NYSE:C) said, “We are pleased that Spartus selected Citi to deliver the solutions it needs to support the fund’s success. This mandate is further evidence that Citigroup Inc. (NYSE:C) is well positioned in the marketplace to provide a comprehensive solution across a diverse range of client categories, investment strategies, and asset classes.”

Citigroup Inc. (NYSE:C) shares were at 33.68 at the end of the last day’s trading. There’s been a 11.8% movement in the stock price over the past 3 months.

Citigroup Inc. (NYSE:C) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.86
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.91
Zack’s Rank: 6 out of 16 in the industry

Citigroup Inc. (NYSE:C) has been hit with a lawsuit from Highland Capital over Liberty CLO.

Citigroup Inc. Facing Highland Capital Lawsuit

Highland Capital Management has filed a lawsuit against Citigroup Inc. (NYSE:C) in the District Court of Dallas County over Liberty Collateralized Loan Obligation.

Highland has said that the bank tried to remove it as portfolio manager after it refused to liquidate the fund and tried to replace it with Babson Capital management.

A Citigroup Inc. (NYSE:C) spokesperson declined to comment as the case is under review.

Highland is demanding retribution for damages from the bank.

Citigroup Inc. (NYSE:C) shares were at 34.79 at the end of the last day’s trading. There’s been a 24.4% change in the stock price over the past 3 months.

Citigroup Inc. (NYSE:C) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.86
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.91
Zack’s Rank: 5 out of 16 in the industry

Citigroup Inc. (NYSE:C) is planning to appoint Kazuya Jono as the head of its Japanese unit.

Citigroup Inc. Has New Japan Head In Sights

It has been reported that the US bank Citigroup Inc. (NYSE:C) will appoint Kazuya Jono as the president of its Japanese unit after the unit faced various regulatory sanctions in the country.

Regulators asked the bank to appoint a Japanese executive to run the business.

Jono, who was the managing director of Sumitomo Mitsui Banking Corp, will assume the new role in June.

Citigroup Inc. (NYSE:C) has also selected Peter Eliot as the president of Citigroup Japan Holdings Group and he will also take up the new responsibility in June. Eliot was the acting president and chief executive of the banking unit.

Citigroup Inc. (NYSE:C) stocks are currently standing at 36.78.

Price History
Last Price: 36.78
52 Week Low / High: 21.4 / 46.9
50 Day Moving Average: 33.1
6 Month Price Change %: 40.1%
12 Month Price Change %: -16.1%

Citigroup Inc. (NYSE:C) has predicted 4.2 percent economic growth in the Philippines this year.

Citigroup Inc. Expects Philippines Growth

Citigroup Inc. (NYSE:C) has said in its Global Economic Outlook and Strategy report that the stronger global economic growth will help the Philippines to achieve 4.2 percent growth this year and 4.5 percent next.

The bank said that the gross domestic product (GDP) will increase from 3.7% last year.

Citigroup Inc. (NYSE:C) said in its report, “This is the second month in a row that we have slightly raised our global forecasts, after a series of downgrades between April and November 2011”.

Citigroup Inc. (NYSE:C) stocks are currently standing at 37.13.

Price History
Last Price: 37.13
52 Week Low / High: 21.4 / 46.9
50 Day Moving Average: 32.98
6 Month Price Change %: 48.7%
12 Month Price Change %: -16.2%

Citigroup Inc. (NYSE:C) has been considering selling its remaining stake in Smith Barney.

Citigroup Inc. Set To Sell Smith Barney Stake

An analyst has said that the US banking giant is planning to offload the remaining shares of its brokerage joint venture Smith Barney to Morgan Stanley.

The move comes after the bank recently failed to pass a stress test. It has already received regulatory approval to sell 14 percent of its stakes to Morgan Stanley.

Glenn Schorr, analyst at Nomura Holdings Inc., said, “Citigroup Inc. (NYSE:C) Chief Financial Officer John Gerspach and Chief Operating Officer John Havens indicated a willingness to sell more than the scheduled 14 percent stake in Morgan Stanley Smith Barney if Morgan Stanley makes an attractive offer”.

Citigroup Inc. (NYSE:C) shares were at 36.90 at the end of the last day’s trading. There’s been a 44.8% change in the stock price over the past 3 months.

Citigroup Inc. (NYSE:C) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.86
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.91
Zack’s Rank: 7 out of 15 in the industry

Citigroup Inc. (NYSE:C) has introduced a new mobile banking platform in Philippines.

Citigroup Inc. Bringing Mobile Banking To Philippines

The US banking giant Citigroup Inc. (NYSE:C) has launched a mobile banking service to run on Android, Blackberry and iPhone in the Philippines.

This service will allow the bank customers to use their mobile phones for transactions.

Citigroup Inc. (NYSE:C)’s consumer business manager Sergio Zanatti said, “This launch bolsters our claim that Citigroup Inc. (NYSE:C) services are available to our clients anywhere and anytime now, through whichever communication channel they prefer. We expect clients to be very excited about the real time offers that we can quickly upload and share with them using these apps. We are investing in the latest technology to deliver relevant offers to our clients, as and when they need them”.

Citigroup Inc. (NYSE:C) stocks are currently standing at 37.80.

Price History
Last Price: 37.80
52 Week Low / High: 21.4 / 46.9
50 Day Moving Average: 32.73
6 Month Price Change %: 48.1%
12 Month Price Change %: -14.5%

Citigroup Inc. (NYSE:C) has named James Boyle as the head of its equity derivative trading in Asia.

Citigroup Inc. Names Asia Derivative Head

The US lender Citigroup Inc. (NYSE:C) has appointed James Boyle as the head of its Asia equity derivatives trading.

The company hopes that Boyle, who was the head of equities at Citadel LLC, will lead the company to come out of its revenue slump in the Asian markets.

He will report to Joseph Chang, the head of Asia equities trading.

Chang said, “We continue to grow our Asian trading capabilities and the capacity to service Citigroup Inc. (NYSE:C)’s institutional, corporate and retail client franchise”.

Citigroup Inc. (NYSE:C) stocks were at 36.27 at the end of the last day’s trading. There’s been a 40.0% change in the stock price over the past 3 months.

Citigroup Inc. (NYSE:C) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.86
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.91
Zack’s Rank: 15 out of 15 in the industry

The GSA has selected Citigroup Inc. (NYSE:C) to support its PayPort Express service.

Citigroup Inc. Selected For PayPort Support

The US General Services Administration (GSA) has selected Citigroup Inc. (NYSE:C) to support its new PayPort Express service by streamlining transportation payments.

The Global Transaction Services will provide solutions to manage the transportation payables.

Citigroup Inc. (NYSE:C)’s Global Transaction Services managing director Kevin Fitzgerald said, “At Citigroup Inc. (NYSE:C), we realize that government agencies are under tremendous pressure to do more with less and we are particularly pleased to be working with the GSA to help agencies achieve their cost containment and productivity improvement goals. PayPort Express is a field-tested solution that both meets the specific needs of government entities and provides best-in-class tools for increasing efficiency and driving down processing costs for transportation invoices and payments — a winning proposition for U.S. government agencies and their transportation service providers”.

Citigroup Inc. (NYSE:C) company shares are currently standing at 36.45.

Price History
Last Price: 36.45
52 Week Low / High: 21.4 / 46.9
50 Day Moving Average: 31.68
6 Month Price Change %: 34.8%
12 Month Price Change %: -19.7%