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☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 21 senior execs have left since his arrival.
▼ + stars: | 2024-06-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

But the leadership of its ailing wealth unit is continuing to undergo major changes under its new boss Andy Sieg. Citi's wealth unit has seen at least 21 senior executives exit since Merrill Lynch veteran Sieg joined in September. The latest is Julia Carreon, global head of wealth platform and experiences. Sieg also plans to expand Citi's already successful wealth business in Asia. Here is our running list of senior departures from Citi Wealth.

Persons: —, Andy Sieg, Merrill Lynch, Sieg, Julia Carreon, Naz Vahid, Carreon, David Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merrill, Don Plaus, Hale Behzadi, Dawn Nordberg, Morgan Stanley, Citi David, Francesco Bertoni, Alfonso Camacho Bustillo, Hoyt, Paul Hodes, Robert Hoffman, Keith Lee Hong, Li, Liu, Fernando Lopez Munoz, Alex Marshall, Eduardo Martinez Campos, Luigi Pigorini, Fernando Senso, Jeff Sutton, Naz, Vahid, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Service, Citi, Citi Wealth, Business, Bankers, Citi Global Wealth, North America, Francesco Bertoni EMEA, Hoyt Gier Global, South, Asia, Fernando Lopez Munoz Head, Tate, Eduardo Martinez Campos Head, Mark Mills Regional, Fernando Senso Castilla Global, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Paul Hodes Asia, South Asia, Keith Lee Hong Kong, Asia Pacific, Shyam Sambamurthy South Asia, Fernando Senso Castilla, America, West China, hcuccinello@businessinsider.com

☆ Chance encounter transforms girl from Mumbai slum into teenage model, internet influencer
▼ + stars: | 2023-09-18 | by ( Hemanshi Kamani | ) www.reuters.com time to read: +2 min

MUMBAI, Sept 18 (Reuters) - Three years ago an inquisitive American tourist wandered into a waterfront slum in Mumbai and met a tiny, smiley girl. In March, a luxury Indian cosmetics brand Forest Essentials chose Maleesha as the face of its Yuvati campaign celebrating young Indian women. [1/5]Maleesha Kharwa, 15, a model and Instagram Influencer, takes a selfie next to a bus terminal in Mumbai, India, September 11, 2023. Since then, Maleesha has become a social media influencer, using the hashtag 'the princess from the slum' in some of her posts. Reporting by Hemanshi Kamani, writing by Tanvi Mehta; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Kharwa, Maleesha, Influencer, Hemanshi, Robert Hoffman, Hoffman, Hemanshi Kamani, Tanvi Mehta, Simon Cameron, Moore Organizations: Cosmopolitan India, REUTERS, Thomson Locations: MUMBAI, Mumbai, India, American

Summary Peso's informal value hits all-time low vs dollarAnnual inflation surges to 45%Plunge in peso value 'something horrible', says teacherHAVANA, Aug 2 (Reuters) - The Cuban peso was trading on the informal market at an all-time low of 230 to the dollar on Wednesday, slumping to half its value a year ago as consumers struggle with surging inflation and scarce goods, a widely watched tracker showed. The state considers the informal exchange rate, widely tracked via the independent news outlet El Toque, as illegal, but it has been unable to shut it down. The state officially pegs the local currency at 120 pesos to the dollar, but it has few to exchange. The weakening informal rate was similar to a fall in the government’s electronic equivalent, which residents must use to purchase goods at state stores that are relatively well-stocked compared with peso outlets. Prices grew 39% last year, a figure many economists say underestimates the rate as it does not adequately account for a growing informal market.

Persons: HAVANA, Bert Hoffman, Alejandro Gil, May, Sonia Nunez, Gil, Mario Fuentes, Christian Plumb, Conor Humphries Organizations: Cuban, German Institute of Global, Communist, Economy, Thomson Locations: America, Hamburg, Cuban, Havana

☆ We're constructive on U.S. stocks but global stocks are still the 'major opportunity,' Citi says
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're constructive on U.S. stocks but global stocks are still the 'major opportunity,' Citi saysRobert Hoffman of Citi Private Bank says there's likely to be a shift away from the "Magnificent Seven" stocks to the small-caps and mid-caps in the second half of the year.

Persons: Robert Hoffman, there's Organizations: Citi, Citi Private Bank

☆ U.S. not expected to slip into recession until end of 2024, Citi Private Bank says
▼ + stars: | 2023-06-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. not expected to slip into recession until end of 2024, Citi Private Bank saysRobert Hoffman of Citi Private Bank gives his predictions for Fed rate hikes and says he sees a "strong rebound" from small and mid-cap companies in the U.S.

Persons: Robert Hoffman Organizations: U.S, Citi Private Bank Locations: U.S

☆ Flight to 'what are perceived to be safer assets' could cost in the long term, Citi says
▼ + stars: | 2023-04-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFlight to 'what are perceived to be safer assets' could cost in the long term, Citi saysRobert Hoffman of Citi Private Bank says what might be a short-term haven for people, such as short-term Treasurys and high-grade investment bonds of short duration, is "likely going to cost you quite a bit in long-term return and long-term performance."

☆ As Cuba election day nears, some voters ask, 'why bother?'
▼ + stars: | 2023-03-22 | by ( Dave Sherwood | ) www.reuters.com time to read: +4 min

HAVANA, March 22 (Reuters) - Like a growing number of Cubans, 77-year-old Havana resident Humberto Avila says he will likely sit out Sunday's legislative elections. The retired university professor says he's done the math - 470 candidates, 470 open seats - and sees no point in voting. Abstention has spiked in recent elections, rising to a four-decade high of 31% of eligible voters in municipal elections in November. "This vote is for the Revolution ... and to continue to defend our socialist system," Diaz-Canel told textile workers in Santa Clara. Rey Lazaro Blanco, a 19-year old geography student at the University of Havana, told Reuters he will vote on Sunday.

☆ The clock is ticking on economic damage, Citi says
▼ + stars: | 2023-03-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe clock is ticking on economic damage, Citi saysRobert Hoffman of Citi Private Bank says "the further the Fed has to go up from here, probably the more likely we are to see an actual U.S. recession in the second half of this year."

☆ We are not buyers of emerging market stocks at this point, says Citi
▼ + stars: | 2022-09-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are not buyers of emerging market stocks at this point, says CitiRobert Hoffman of Citi Private Bank says that's because U.S. dollar strength is likely to continue in the short term.

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