Stock Market

Citigroup’s Bold Move: Combining FX Teams Under Ace Exec Sam Hewson

Hey, have you caught the latest scoop from Citigroup Inc? It’s making waves! The big bank’s shaking things up by merging its foreign-exchange sales teams for big corporate clients. And guess who’s steering this ship? None other than the whiz Sam Hewson, starting Tuesday! With a solid track record in corporate sales from Europe to Africa, this guy’s a game-changer!

Now, this move ain’t coming out of the blue. The currency-trading wing at Citigroup’s seen a musical chairs of sorts. After Stu Staley made his exit, Leo Arduini stepped in, albeit for a short stint, and now, Flavio Figueiredo’s taken the reins. But with Sam now at the helm of this combined team, it looks like they’re gunning to fine-tune their game and tap into his vast sales experience.

Craving some digits on Citigroup? InvestingPro’s got the deets. With a market cap of a whopping 76.85B USD and a Price / Earnings ratio sitting at 6.28, it’s clear they’re a big deal. Last year? They raked in a cool 70.8B USD, with an operating income of 17.8B USD. Even with a slight dip in their revenue growth, they’re still dishing out a neat dividend yield of 5.23%. Not too shabby, right?

However, all ain’t rosy. InvestingPro’s fine print shows a wee bit of concern. Although Citigroup’s been consistent with their dividend payouts for 13 straight years, there’s a little hiccup. Their earnings per share seem to be on a downhill ride, and the rumor mill suggests their cash might be drying up a tad quick. But, silver lining? They’re still pocketing profits!

For folks wanting the nitty-gritty on Citigroup and other financial giants, InvestingPro’s the place to be. From earnings snapshots to industry tidbits, they’ve got the full lowdown.

Just a heads up, this piece’s got a pinch of AI magic, but fret not, a human editor gave it the green light. Need more info? Check out InvestingPro’s T&C. Cheers!

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