News Formal

Citibank will reportedly hire 2,500 coders to bolster its trading and investment banking units | Markets Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Citibank will reportedly hire 2,500 coders to bolster its trading and investment banking units

Citi's bolstered investment in electronic trading will help drive as much as $600 million in savings in 2020, Bloomberg reported. The firm recently shrank its trading business to meet efficiency goals. Citi's total hires fell to 199,000 by the fourth quarter of 2019, an 18% drop from five years prior.

Citi already used its growing tech team to automate pricing, news, and analytics, Riley told Bloomberg. The newest class of recruits will focus primarily on equities and fixed income projects, bringing data-driven efficiencies to inherently unpredictable businesses.The sentiment was echoed in September by Goldman Sachs' former trading chief Marty Chavez.

Citigroup traded at $79.42 per share at 11:15 a.m. ET Monday, down roughly 0.4% from Friday's closing price. The bank has 22"buy" ratings, four"hold" ratings, and one"sell" rating from analysts, with a consensus price target of $86.52, according to Bloomberg data.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Will it? What happens if 'coders' all decide: 'F- Citibank'?

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These charts chronicle how Microsoft has changed under Satya Nadella - Business InsiderBusiness Insider analyzed Microsoft's securities filings and market data since Nadella took over as CEO in 2014 to detail his impact on the company. Absolute stud BI has a paywall now? Lol.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Most overpriced stocks in the market to avoid, 20% drop: Goldman Sachs - Business InsiderGoldman Sachs says these 10 stocks are dangerously overvalued and could tumble 20% — and their list includes Apple, which they see plunging 35% this year GoldmanSachs disclosing the stocks they shorted. Lololololol I always believe GSCO 🙄 'Short my shorts bitches'.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Receipt Bank scoops up $73 million to help businesses with digital bookkeeping - Business InsiderReceipt Bank will likely continue to attract more clients with its digital bookkeeping platform after scooping $73 million in funding.
Source: BusinessInsider - 🏆 729. / 51 Read more »