Rus News Journal

Citigroup changes in the person

a new management will help bank to leave crisis

the American bank Citigroup Inc. Changes the chairman of board of directors. In its official statement it is informed that this post will be occupied on February, 23rd with the former general director and the chairman of board of directors of company Time Warner 60 - summer Richard Parsons. Present chairman of board of directors Citigroup 67 - summer Uin Bishoff this year plans to retire. Shifts pass in the higher echelon of bank against moving to the White house of administration 44 - go the US president which should support Citigroup in struggle against crisis consequences.

necessity of change of chairman of board of directors Citigroup was discussed some last months in connection with worsening indicators of work of bank in the conditions of a bad conjuncture of the global markets. In the last two days actions Citigroup have fallen in price on 93 %, following the results of 2008 dead losses have made 18,7 mlrd dollars All it has pushed bank to the announcement in January of emergency measures after business division into two separate companies: Citicorp and CitiHoldings.

Making comments on the appointment, g - n Parsons has underlined that is going to enter into board of directors Citigroup of people with a wide experience of work in bank sphere. At Richard Parsons behind shoulders it is a lot of similar experience. In 1970 - h years it worked in the governmental structures, and in 2002-2008 held posts of the general director and the chairman of board of directors in Time Warner. By estimations of analysts, in many respects thanks to Parsons Time Warner could overcome financial difficulties. g - n Parsons is included into structure of board of directors Citigroup since 1996.

Parsons has proved the ability to operate company Time Warner in the conditions of crisis, - expert Alite Group of Aloiz Pirker has told daily. - to leave present serious crisis, Citigroup structural changes are necessary. I am assured that Parsons will very quickly find answers to all complicated questions and will make necessary decisions .

At the same time it is not excluded that a choice of a nominee of Richard Parsons could affect and its good communications in administration of new US president Barack Obama. G - n Parsons was one of Obama`s economic advisers during its election campaign. And support from Washington Citigroup is necessary now more than ever. The American Ministry of Finance became one of the main investors of bank in 2008, having allocated it 52 mlrd dollars within the limits of the national program of struggle against consequences of financial crisis.

pound in a fog

After falling of a course of the British pound in relation to dollar to 7,5 - a summer minimum of prospect of the British currency remain uncertain. Analysts Goldman Sachs consider that the pound is already seriously resold, that is why will start to grow. However the majority of experts nevertheless is assured that a bottom it is not reached yet. So, Bank of Tokyo - Mitsubishi UFJ supposes that the British currency will fall in price to level 1,30 dollars, British Royal Bank of Scotland on Wednesday has declared that the pound can fall to a mark 1,29 dollars Some analysts notice that the pound weakens as the importance of London as one of the leading financial centres of the world decreases and problems with oil recovery in the North Sea amplify. Yesterday as of 19. 00 Moscow time the pound cost 1,37 dollars