Citigroup to replace it Japan CEO

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters
Citigroup is considering to replace its Japanese division CEO Darren Buckley in forthcoming month, said 2 officials familiar with situation. Buckley is expected to resign after the Citibank Japan has been penalized by Financial Services Agency for inappropriately explaining product risk exposure to retail clients. The bank has received punishment for the 3rd time in 7 years. Citigroup is looking for a Japanese origin to become CEO to assure person has knowledge of local rules and markets.
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Fri, 02 Dec 2011 07:09:59 GMT

Residential property prices decrease in China

Residential house prices declined for the third consecutive month in November as a result of government restriction policy, according to report of China Real Estate Index System. The average price for residential property in 100 cities surveyed dropped by 0.28% on a monthly basis. In response property developers have commenced selling houses with over 20% discount weighting down on prices.

Thu, 01 Dec 2011 16:50:09 GMT

Alliance Aviation's IPO raises A$74 mln

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