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Driven by new cash and a belief that the Fed has served up a soft economic landing, normally sober debt investors are joining the boom that’s sent stocks and Bitcoin to giddy heights.
Raghavan is now set to take over Citigroup’s entire Wall Street operation as part of Jane Fraser’s company-wide overhaul aimed at honing profitability.
Lenders are taking increasing provisions on debt extended to property owners and developers as loans begin to sour after rising interest rates eroded the value of buildings globally.
February 7, 2024
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Ranjan will replace Cyrus Madon, who is taking on a new role as executive chairman of private equity and will continue to be actively involved in the group.