Citi announced the closing of the sale of $1.6 billion in managed assets, part of its U.S. retail sales finance portfolios, to GE Capital.
The assets were part of Citi Holdings. Terms of the deal, which has received regulatory approval, were not disclosed.This transaction will reduce assets by $1.6 billion in Citi Holdings, Citi’s portfolio of non-core operating businesses and assets, and builds on the progress made to date to reduce assets in an economically rational manner. Citi continues to pursue opportunities within Citi Holdings that create the most value for stakeholders.
Bill Johnson, CEO, Retail Partner Cards, Citi:
“Selling these assets enables us to streamline the strategic operating model, including our bank legal vehicles and operating platforms, for the Retail Partner Cards business. Going forward, we are better positioned for future growth as we continue to partner with premier brand retailers across a broad spectrum of industries and retailing specialties.” *
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PriceMetrix is a software firm that helps retail wealth management firms and their advisors optimize selling efforts, manage clients, identify growth opportunit ...
Steve Husk, CEO of FRSGlobal, discusses the factors financial institutions are faced with in order to equip themselves against the current regulatory environment.
The adoption of IFRS for Canadian companies is in full swing. As of January 1, 2010, Canadian companies are required to file financial statements under IFRS. Although Canadian GAAP and IFRS are similar, there are three main differences that have posed a challenge for companies: effectiveness testing, hedge accounting eligibility, and fair value measurement. While not an exhaustive list, these issues have posed the greatest challenge for Canadian corporations during the first quarter of 2010. The following paper clarifies some of the differences in hedge accounting between Canadian GAAP and IFRS and shares best practices for hedge accounting to help Canadian corporations navigate through the transition.
With this Spring 2010 Edition of the Phone System Comparison Chart quickly see differences between brands like Avaya, Mitel, Cisco, ShoreTel, 8x8, Panasonic, etc and compare over 94 phone systems by 52 brands for small to big business.