Citigroup Inc (NYSE:C). has made a strategic move to consolidate its foreign-exchange sales teams for corporate and institutional clients, placing them under the leadership of Sam Hewson, effective Tuesday. Hewson, a seasoned executive known for his work in corporate sales across Europe, the Middle East, and Africa, will now manage the combined teams.
This decision follows a series of leadership changes in Citigroup's currency-trading division. Flavio Figueiredo recently assumed the role of head of the division on an interim basis, following a brief tenure by Leo Arduini. Arduini's stint came after the departure of Stu Staley.
The unification of the foreign-exchange sales teams under Hewson's leadership is seen as a strategic move to streamline operations and leverage Hewson's extensive experience in corporate sales across diverse regions.
According to InvestingPro data, Citigroup currently has a market capitalization of 76.85B USD and a Price / Earnings ratio of 6.28. The company's revenue for the last twelve months is 70.8B USD, with an operating income of 17.8B USD. Despite a slight decline in revenue growth, the company has maintained a dividend yield of 5.23%.
InvestingPro Tips also provides some additional insight into the company's financial performance. The company is recognized as a prominent player in the Banks industry and has managed to maintain dividend payments for 13 consecutive years. However, analysts have noted a declining trend in earnings per share and the company is reportedly burning through cash quickly. Despite these challenges, Citigroup has been profitable over the last twelve months.
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