Citi cuts multiple CFO roles as part of broad restructuring
CFO Dive
DECEMBER 7, 2023
The bank’s biggest restructuring in a decade is hitting group finance chiefs as Citi seeks to trim expenses over the next two years.
This site uses cookies to improve your experience. By viewing our content, you are accepting the use of cookies. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country we will assume you are from the United States. View our privacy policy and terms of use.
CFO Dive
DECEMBER 7, 2023
The bank’s biggest restructuring in a decade is hitting group finance chiefs as Citi seeks to trim expenses over the next two years.
Future CFO
JANUARY 18, 2024
Communicating the rationale for restructuring can be sound simple, but is actually requiring more than just a mere meeting with the team. As a finance leader , it is important that topics such as restructuring is properly and effectively communicated to the people to ensure that the team is on the same page.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Planning Your Restaurant's Path to Profitability
How Automation is Driving Efficiency Through the Last Mile of Reporting
Future CFO
JANUARY 11, 2024
CFOs must lean on a systematic phased approach to restructuring strategies for the future to be able to plan correctly , and consequently execute and adapt. Phase 1 – The case for change In the initial phase, finance leaders must make a compelling case for change and communicate the strategic rationale behind the restructuring.
CFO Dive
APRIL 1, 2022
As an alternative to calculating TDR, creditors that have implemented current expected credit losses (CECL) standards are to disclose their restructurings for distressed borrowers.
CFO Dive
APRIL 24, 2023
In a memo to employees from CFO Christine McCarthy that was later leaked, she outlined plans for changes to the structure of the company’s financial team, according to a Business Insider report.
CFO News
FEBRUARY 25, 2024
The rejigs and job cuts—in line with global restructuring at the telecom equipment maker—come amid a weak India business environment in the face of reducing 5G capex spends by top telcos Bharti Airtel and Reliance Jio as well as major customer Vodafone Idea’s continuing financial struggles.
CFO Dive
JANUARY 26, 2024
“Cloud is the big elephant in the room for SAP,” Forrester VP and Principal Analyst Liz Herbert said.
Corporate Finance Lab
JULY 18, 2023
The long anticipated law of 7 June 2023 implementing the European Directive on restructuring and insolvency brings about a major reform of Belgian insolvency law. The new regime: shareholders no longer immune Under the new regime, shareholders are allocated to a class and can be affected by the restructuring plan.
Corporate Finance Lab
JULY 12, 2022
The independent think tank Conference on European Restructuring and Insolvency Law (CERIL) has published its latest Statement and Report 2022-2 on Cross-Border Effects in European Preventive Restructuring. Cross-Border Dimensions of Preventive Restructuring Proceedings. In January 2022, CERIL commenced a new project led by Prof.
CFO Dive
JANUARY 19, 2024
The move comes amid reports of a broader restructuring of the football club’s business operations, led by chief operating officer Wesley Walls.
CFO News
AUGUST 6, 2023
The CBIC is mulling a comprehensive restructuring of the organisation to make it more effective and remove overlapping, if any, as many of its functions have undergone transformation. The Central Board of Indirect Taxes and Customs or CBIC (formerly knows as Central Board of Excise and Customs) was set up in 1964.
CFO Dive
JANUARY 5, 2024
The CVS Health executive is taking on the top finance seat as it looks to get back on track following a corporate restructuring, company-wide layoffs, and rising costs.
Corporate Finance Lab
FEBRUARY 14, 2022
The overall theme of the academic conference will be: “The Emerging New Landscape of European Restructuring and Insolvency”. The legal development have not stopped with the pandemic, in fact it has set in motion many new developments. Programme and registration details. To conference will be in person in Dublin on 2 and 3 Mach 2022.
CFO Share
MARCH 16, 2021
Then I am hired to negotiate with lenders to help small businesses restructure debt and avoid folding. Does your small business need debt restructuring? When should I restructure my business debt? Signs you should restructure business debt include: Paying interest rates in excess of 10% APR. What is good business debt?
CFO Dive
APRIL 23, 2023
Restructuring expert Holly Etlin, named Bed Bath & Beyond’s interim finance chief in February, stepped into the roles of CFO and chief restructuring officer Saturday.
CFO Thought Leader
OCTOBER 18, 2023
www.planful.com The post When a Restructuring Became A CFO’s Flight Path | Donald McClure, CFO, Identity Digital appeared first on CFO THOUGHT LEADER, CFO, Finance, Leadership, CPA. Planful empowers finance, accounting, and business users to plan confidently, close faster, and report accurately.
PYMNTS
JANUARY 27, 2019
Reuters reported that in addition to exploring strategic alternatives, the company is currently working to restructure its outstanding debt, which was at $902.8 Justice Department to extend a deferred prosecution agreement, which paves the way for MoneyGram to restructure its debt. billion to look for strategic alternatives.
CFO Dive
JANUARY 10, 2024
Sonos has restructured and cut jobs as it navigates a broader slump in the U.S. consumer technology sector.
CFO Selections
JUNE 20, 2022
Debt restructuring and debt consolidation are two debt management strategies that companies can use when they need help getting out from under their debt. Obviously, you cannot simply make business debt disappear. Wouldn’t that be nice?!) But what you can do is make it more manageable, so it is easier to pay off.
CFO Dive
JUNE 16, 2023
The 23-year company alum is stepping down among a pending shareholder lawsuit and efforts by the company to restructure following ongoing subscriber loss for its streaming business.
CFO Dive
MAY 11, 2023
Disney’s restructured content strategy comes as the company faces legal battles, a changing entertainment environment and the impact of AI.
PYMNTS
OCTOBER 28, 2019
Losses at some HSBC businesses are causing the bank — Europe’s largest — to restructure, CNBC reported Monday (Oct. HSBC group CFO Ewen Stevenson announced plans to restructure the businesses with the greatest losses, its U.K. We haven’t yet sized what that means in terms of the restructuring.”. businesses.
CFO Dive
APRIL 26, 2023
The seller of women’s handbags is planning to cut as many as two dozen jobs as part of a corporate restructuring initiative targeting $12 million in incremental cost reductions.
CFO Dive
JANUARY 11, 2023
Alcoa’s controller will move to its CFO seat among an executive restructuring plan designed to help the company focus more deeply on cost and innovation.
PYMNTS
JULY 19, 2019
To look into debt restructuring options that would provide the retailer more time to make a turnaround, JCPenney Co Inc has reportedly hired advisers. Even so, one of the unnamed sources put out the caveat that the plans for restructuring are at an early stage.
Nerd's Eye View
NOVEMBER 8, 2022
What's unique about Cean, though, is how the path that he and his partners took to break away from the insurance and brokerage worlds to run their own independent RIA inadvertently created a three-way struggle to find the proper compensation and accountability structure across their differing books of business, and ultimately forced them to seek third-party (..)
CFO Dive
JANUARY 20, 2023
The regional bank will aim for low-level expense growth and conduct some measure of organizational restructuring as it looks to position itself to weather a mild recession, CFO Zach Wesserman said.
PYMNTS
OCTOBER 30, 2019
Germany’s Deutsche Bank reported a net loss below market expectations amid a restructuring plan that includes about 18,000 layoffs, The Wall Street Journal (WSJ) reported Wednesday (Oct. The restructuring has Deutsche Bank leaving equities trading along with other operations that aren’t profitable.
PYMNTS
JUNE 4, 2019
Wells Fargo announced on Tuesday (June 4) that it has restructured its commercial banking business. In a press release , Wells Fargo said Kyle Hranicky, a 25-year veteran of the company, will head up its commercial banking business.
PYMNTS
SEPTEMBER 24, 2019
Chinese regulators have given the green light to Alibaba to restructure Ant Financial, which will open a path for an initial public offering (IPO) for the Chinese payments company. . The proposed restructuring will happen with Alibaba exchanging 37.5 percent of pre-tax Ant Financial profit for a 33 percent stake in equity.
Future CFO
FEBRUARY 26, 2020
Many companies in Asia Pacific will be forced to restructure operations to stay afloat if the new Coronavirus outbreak (COVID-19) worsens, said Tricor Group that recently released its COVID-19 Business Sentiment and Resilience Barometer Report. . Key findings .
CFO News
DECEMBER 16, 2022
The company owes a group of 10 lenders led by State Bank of India (SBI) a total of ₹4,900 crore. Delays in payments had meant the account was tagged as NPA in the fourth quarter of last fiscal. However, the company cleared its outstanding dues in the last three months and has proposed a fresh payment schedule to banks.
CFO News
JUNE 1, 2023
The talks were called off after the creditors moved court, accusing the firm of hiding $500 million of funds raised, the people said, asking not to be named as the information is not public. Lenders can now sell the term loan B securities of the firm as the restraint that came as part of the negotiations is lifted, they said.
Future CFO
JANUARY 2, 2024
At the backend, a fast-paced financial restructuring was taking place. “We MAG was one of the first aviation groups to embark on a restructuring during the pandemic. This proved to be a challenging feat as MAG has over 75 major creditors/lessors from across the world impacted by the restructuring.
PYMNTS
SEPTEMBER 30, 2018
Tencent Holdings revealed that it is restructuring for the first time in six years as it faces tougher Chinese internet regulation. According to Reuters , the Chinese internet giant announced that Tencent executives will consolidate three content business groups to one unit and implement a new group for cloud and smart industries.
CFO News
MARCH 20, 2023
The cash-strapped carrier has been facing multiple headwinds though it reported a multi-fold rise in net profit to Rs 107 crore in the three months ended December 2022, helped by better performance in passenger and cargo businesses.
PYMNTS
OCTOBER 23, 2019
B2B FinTech BitPesa , which operates a platform offering foreign exchange and cross-border payment services, is restructuring and has announced new funding to support its expansion efforts. The company said on Tuesday (Oct. 22) that it is now part of parent company AZA Group, which now encompasses the BitPesa, BFX and TransferZero brands.
PYMNTS
JUNE 4, 2019
Wells Fargo announced Tuesday (June 4) it has restructured its Commercial banking business. In a press release , Wells Fargo said Kyle Hranicky, a twenty-five year veteran of the company will head up the Commercial Banking Business.
CFO News
JUNE 30, 2023
The lenders have delivered a detailed amendment proposal to the company that calls for a debt pay down, coupon boost and better investor protections on the loan. The company told some lenders it will review the proposal and deliver its reply by early next week, the people said.
Future CFO
OCTOBER 28, 2019
HSBC’s CFO Ewen Stevenson said the bank plans to restructure its loss-making businesses after announcing an 18% year-on-year drop in pre-tax profit in Q3 on Monday. The post HSBC CFO: Bank to restructure after Q3 profit drop appeared first on FutureCFO. The Hong Kong-listed bank reported pre-tax profit of US$4.8
PYMNTS
JANUARY 19, 2017
BCBG announced plans to close stores and restructure the company due to mounting pressure from its debt burden and more consumers opting to shop online. Lubove confirmed that BCBG is s looking into a “variety of options” in its efforts to restructure the business. told Bloomberg in an emailed statement.
CFO Dive
AUGUST 10, 2022
Alvarez & Marsal Managing Director Matt Kvarda will step in as interim CFO for beauty brand Revlon as it goes through corporate restructuring, with the consulting firm reaping a $165,000 monthly fee.
CFO Dive
JUNE 21, 2022
As smaller fintechs grapple with restructuring challenges, the card company expects there will be more opportunities for it in hiring talent and acquiring businesses, said CFO John Greene.
CFO News
JANUARY 16, 2023
Experts said the tax authorities' opposition to some of the corporate restructuring deals stems from concerns that some deals may be structured to avoid taxes. There are also rising instances of the tax department raising the GAAR issues in corporate restructuring at the time of assessment, they said.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content