Tag Archives: Wells Fargo

Citigroup will pay back 20 billion U.S. dollars

Citigroup will again be more independent of Washington. The bank has repaid the U.S. government, therefore, 20 billion U.S. dollars. In addition, an agreement was terminated on state guarantees. Their value: 250 billion U.S. dollars.

New York – The U.S. bank Citigroup has repaid the U.S. government 20 billion U.S. dollars aid. In addition, an agreement had been terminated, with the U.S. government gave guarantees for investments of 250 billion U.S. dollars, said the institute on Wednesday.

With these steps, dissolved in the financial crisis jeopardized Citigroup from government control. Thus the government in Washington no longer has the final say on the salaries for the top 100 employees of the bank. However, the U.S. government is still holding shares in the institution in the value of just over 25 billion U.S. dollars.

Citigroup had prepared for the repayment of the aid from tax money in the past week with a capital increase, which pushed to the dismay of many investors to little interest. In response, the U.S. government blew off at the last second of the planned sale of Citigroup’s shares, worth five billion dollars to avoid a loss of business.

In addition to paying the Citi Bank, Wells Fargo on Wednesday assistance from the Troubled Asset Relief Program (Tarp) back. The San Francisco-based Institute erstatte complete the 25 billion U.S. dollars, which it had received from the emergency pot. Citi and Wells Fargo were the last two big banks that the government still Tarp money owed. Most rivals have paid back the aid as early as June.

Howard I Atkins

Board: Senior Management
Job Title: Senior Executive Vice President and Chief Financial Officer
Since: 2005
Age: 57

Mr. Atkins is Senior Executive Vice President and Chief Financial Officer and is responsible for Wells Fargo’s financial management functions, its investment portfolios and its corporate properties functions. A 33-year veteran of the financial services industry, he joined Wells Fargo in 2001. Formerly, he was Executive Vice President and Chief Financial Officer of New York Life Insurance Company responsible for financial management and information technology.

Before joining New York Life in 1996, he was Chief Financial Officer at Midlantic Corporation before its merger with PNCBank Corp. He also spent 17 years at Chase Manhattan Bank, where he rose to Corporate Treasurer. He also is a Director of Ingram Micro, the largest IT distributor in the world, and serves on the Board of Trustees for the Asian Art Museum in San Francisco.

David A Hoyt

Board: Senior Management
Job Title: Senior Executive Vice President, Wholesale Banking
Since: 1998
Age: 52

Mr. Hoyt is a Senior Executive Vice President for Wells Fargo and head of the Wholesale Banking Group. He oversees Asset Management; Commercial Banking; Eastdil Secured, LLC; Insurance Services; International Financial Services; Real Estate Group; Shareowner Services; Specialized Financial Services; Treasury Management; US Corporate Banking; Wells Fargo Business Credit; Wells Fargo Equipment Finance, Inc.; Wells Fargo Foothill; Wells Fargo Funds Management, LLC; and Wholesale Services. He also has responsibility for Corporate Trust Services, Internet Services and Wealth Management Group.

Mark C Oman

Board: Senior Management
Job Title: Senior Executive Vice President, Home And Consumer Finance
Since: 1997
Age: 53

Mr. Oman has been a Senior Executive Vice President for Wells Fargo since 2005. In 1985, he joined Wells Fargo Home Mortgage and held a number of senior management positions until 1989 when he was named President and Chief Executive Officer. Under his leadership, the company grew into one of the largest mortgage banks in the nation, serving all 50 states. In 1997, Oman was promoted to group Executive Vice President of Wells Fargo & Company with responsibility for multiple business units, and in 2005 was promoted to Senior Executive Vice President.

Carrie L Tolstedt

Board: Senior Management
Job Title: Group Executive Vice President, Regional Banking
Since: 2007
Age: 48

Ms. Carrie has been a Senior Executive Vice President for Wells Fargo since 2007. She began her career at United Bank of Denver. In 1986, she joined Norwest Bank Nebraska. In May 1998, after leaving to work for FirstMerit Corporation (May 1995-May 1998), she rejoined Norwest Corporation. In 1998, Carrie became Regional President for Central California for Wells Fargo after the merger of Norwest Corporation and Wells Fargo. In 2001, she was named a Group Executive Vice President, responsible for Wells Fargo’s California Community & Border Banking Group.