Citigroup headaches: now it's Korea
Filed in archive corporate reputation by leon on October 18, 2006

Prosecutors say they are investigating the involvement of Ciitgroup Global Markets in Lone Star Funds' takeover of Korea Exchange Bank (KEB) in 2003 and whether there was any stock price manipulation of KEB's credit card division in 2003 after Lone Star purchased KEB.
Citigroup Global Market Securities, formerly known as salomon smith barney
, was a financial advisor to KEB when it merged with the credit card unit.The Citigroup behemoth seems to be going from mini-crisis to another around the world. None of them earth-shattering, but not a good look either.
Meanwhile in Australia, Citigroup is being sued by the regulator for insider trading and conflicts of interest. I talked about that issue on Australian ABC radio presented via this blog entry here.
All this does raise the question whether we are seeing a pattern of an outfit that just might be too big.
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Citigroup Korea KEB citigroup business korea corporate headaches+korea citigroup+headaches global+ma
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