NEW YORK, September 29, 2023--Citigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Series A Depositary Shares representing interests in its 5.950% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series A (the "Preferred Stock").
The Senate Banking Committee announced the CEOs of the nation's largest banks will be testifying before the committee in December. The CEOs include JPMorgan's Jamie Dimon (JPM), Bank of America's Brian Moynihan (BAC), Citigroup's Jane Fraser (C), Goldman Sachs' David Solomon (GS), and Morgan Stanley's James Gorman (MS). Yahoo Finance Senior Reporter Jennifer Schonberger reports on the details of the hearing. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
In 2021, when Jane Fraser, Citigroup’s chief executive, decided to end its two-decade-long struggle to run Banamex, Mexico’s fourth largest bank, and spin off the lender, she called from New York to ask its chief Ernesto Torres Cantú if she could drop by his Mexico City home. “I know what this means to you, and that it won’t be easy,” Fraser said to Cantú. “But I also know it is the best thing to do for our strategy and for Banamex.”