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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

☆ I moved my family to Spain where childcare is 3 times cheaper than the UK. I'm happier and healthier, and I landed a better job.
▼ + stars: | 2024-05-01 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

I moved with my family to Spain, where I'm from, after living in the UK for two years. I'm much happier and healthier than I was, and I can see us here for the next 10 years. Some parents can pay as little as 300 euros, which is around $320, a month for one child. Childcare was a big factor, but we also wanted to be near my family and have more of a support network. People are warmer and more caring toward children than they were in the UK, though maybe it's just expressed differently.

Persons: —, Sara Bustillo de Castro, I'd, I'm Organizations: Service, Business Locations: Madrid, Spain, Paris, France, Cambridge, London

☆ Uruguay government members resign over passport scandal probe
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

Uruguay's President Luis Lacalle Pou reacts as he leaves the South American Summit at Itamaraty Palace in Brasilia, Brazil May 30, 2023. Interior Minister Luis Alberto Heber, a cabinet undersecretary and a chief adviser to President Luis Lacalle Pou will no longer be in the coalition government from Monday, the president announced on Saturday evening. Bustillo on Friday denied any wrongdoing, saying he did not know who Marset was at the time the passport was issued. The president, who returned on Saturday from meeting with U.S. President Joe Biden, said the passport should have been issued to Marset in accordance with Uruguay's laws. Of course not," Lacalle Pou told a press conference in his first public comments about the scandal.

Persons: Luis Lacalle Pou, Ueslei Marcelino, Luis Alberto Heber, Uruguay's, Sebastian Marset, Marset, Francisco Bustillo, Bustillo, Joe Biden, Lacalle Pou, Sarah Kinosian, Mayela Armas, William Mallard Organizations: South American, REUTERS, United Arab Emirates, U.S, Thomson Locations: Itamaraty, Brasilia, Brazil, Uruguayan, Uruguay, Paraguay, United States, Heber, Bustillo

☆ Uruguay Government Members Resign Over Passport Scandal Probe
▼ + stars: | 2023-11-04 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Uruguay's interior minister and two other members of the government resigned on Saturday over a case that has already prompted the foreign minister to quit, involving a passport issued to an internationally wanted drug-trafficking suspect. The investigation is examining how Sebastian Marset, the alleged drug trafficker, received a Uruguayan passport while detained in the United Arab Emirates over forged documents in late 2012. Marset is wanted in Uruguay, Paraguay, Brazil and the United States on drug charges. Bustillo on Friday denied any wrongdoing, saying he did not know who Marset was at the time the passport was issued. The president, who returned on Saturday from meeting with U.S. President Joe Biden, said the passport should have been issued to Marset in accordance with Uruguay's laws.

Persons: Luis Alberto Heber, Luis Lacalle Pou, Uruguay's, Sebastian Marset, Marset, Francisco Bustillo, Bustillo, Joe Biden, Lacalle Pou, Sarah Kinosian, Mayela Armas, William Mallard Organizations: Reuters, United Arab Emirates, U.S Locations: Uruguayan, Uruguay, Paraguay, Brazil, United States, Heber, Bustillo

☆ The 21 new cardinals named by Pope Francis on Sunday
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +2 min

VATICAN CITY, July 9 (Reuters) - Pope Francis announced on Sunday that he would induct 21 churchmen to the high rank of cardinal in September. The following are set to become cardinals:Cardinal Electors under 801 - Archbishop Robert Prevost, American, Vatican official, head of the Dicastery for Bishops2 - Archbishop Claudio Gugerotti, Italian, Vatican official, head of the Dicastery for the Eastern Churches3 - Archbishop Víctor Fernández, Argentine, Vatican official, head of the Dicastery for the Doctrine of the Faith4 - Archbishop Emil Tscherrig, Swiss, Vatican ambassador to Italy5 - Archbishop Christophe Pierre, French, Vatican ambassador to the United States6 - Archbishop Pierbattista Pizzaballa, Italian, Latin Patriarch of Jerusalem7 - Archbishop Stephen Brislin, South African, Archbishop of Cape Town8 - Archbishop Ángel Rossi, Argentine, Archbishop of Córdoba9 - Archbishop Luis Aparicio, Colombian, Archbishop of Bogotá10 - Archbishop Grzegorz Ryś, Polish, Archbishop of Lodz11 - Archbishop Stephen Mulla, Sudanese, Archbishop of Juba, South Sudan12 - Archbishop José Cano, Spanish, Archbishop of Madrid13 - Archbishop Protase Rugambwa, Tanzanian, Archbishop of Tabora14 - Bishop Sebastian Francis, Malaysian, Bishop of Penang15 - Bishop Stephen Chow Sau-Yan, Bishop of Hong Kong16 - Archbishop François-Xavier Bustillo, Spanish-French, Bishop of Ajaccio, Corsica. 17 - Bishop Américo Alves Aguiar, Portuguese, Auxiliary Bishop of Lisbon18 - Father Ángel Fernández Artime, Spanish, head of the Salesian orderOver 80 and not eligible to enter a conclave19 - Archbishop Agostino Marchetto, Italian, former Vatican diplomat20 - Archbishop Diego Padrón Sánchez, Venezuelan, Archbishop Emeritus of Cumaná. 21- Father Luis Dri, Argentine priestReporting by Philip Pulella and Federico Maccioni; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Pope Francis, Cardinal, Robert Prevost, Claudio Gugerotti, Víctor Fernández, Emil Tscherrig, Christophe Pierre, Pierbattista Pizzaballa, Stephen Brislin, Ángel Rossi, Luis Aparicio, Grzegorz Ryś, Stephen Mulla, of, José Cano, Protase Rugambwa, Bishop Sebastian Francis, Bishop Stephen Chow Sau, Bishop, François, Xavier Bustillo, Bishop of, Bishop Américo Alves Aguiar, Ángel Fernández, Agostino Marchetto, Diego Padrón Sánchez, Luis Dri, Philip Pulella, Federico Maccioni, Alexander Smith Organizations: CITY, Cardinal Electors, Vatican, Bishops, Cape, Argentine, Salesian, Cumaná, Thomson Locations: Argentine, Italy, Vatican, United States, Jerusalem, South, Córdoba, Bogotá, Lodz, of Juba, South Sudan, Madrid, Tabora, Bishop, Penang, Hong Kong, Spanish, Bishop of Ajaccio, Corsica, Portuguese, Lisbon

☆ U.S. arrests retired Salvadoran officer implicated in atrocities
▼ + stars: | 2023-04-06 | by ( Nelson Renteria | ) www.reuters.com time to read: +2 min

SAN SALVADOR, April 6 (Reuters) - U.S. agents arrested a retired Salvadoran military officer this week on charges of participating in a brutal massacre of civilians during El Salvador's grinding civil war in the 1980s, according to a statement on Thursday. Agents from U.S. Immigration and Customs Enforcement (ICE) detained Roberto Garay on Tuesday in the state of New Jersey, the agency said. Retired Salvadoran general Juan Rafael Bustillo acknowledged in 2020 that Atlacatl was responsible for the notorious 1981 El Mozote massacre, in which more than 1,0000 villagers, mostly women and children, were slaughtered. The battalion carried out extrajudicial executions at El Mozote, as well as in three other massacres in which "hundreds of noncombatant civilians" were killed, ICE said. One of several bloody Central American conflicts linked to the Cold War, El Salvador's 1980-1992 civil war pitted the leftist Farabundo Marti National Liberation Front (FMLN) rebels against the army of the U.S.-backed right-wing government.

☆ Crypto firm BKCoin hit by emergency asset freeze over alleged $100 million Ponzi scheme that paid for co-founder's rent and vacations
▼ + stars: | 2023-03-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

The SEC Monday took emergency action against crypto firm BKCoin and its co-founder for allegedly running a fraud scheme. The company allegedly ran a $100 million Ponzi scheme that paid for its co-founder's rent and vacations. The asset freeze marks US regulators' intense crackdown on the crypto sector following FTX's collapse. BKCoin and Kang assured investors their money would be used to trade crypto, and that the company would generate returns for investors through separately managed accounts. "This action highlights our continued commitment to protecting investors and uprooting fraud in all securities sectors, including the crypto asset arena," said Eric Bustillo, director of the SEC's Miami office.

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