Citigroup chief executive Mike Corbatsaid that the “30 most common customer journeys”, such as ordering replacement bank cards and asking about statements, were “pretty easy to deal with”. Photo: Clodagh Kilcoyne

Citigroup chief executive Mike Corbat has suggested that “tens of thousands” of people working in the US bank’s call centres are likely to be replaced(...)

Labour costs as low as the UK and the sophistication of French regulators have been cited as reasons for big financial groups expanding their Paris operations

Paris is emerging as the favoured financial trading hub for continental Europe, as some of the world’s biggest banks and asset managers prepare for li(...)

Yields on the benchmark 10-year Treasury note last week jumped by the biggest percentage in a decade as US Federal Reserve chairman Ben Bernanke indicated the central bank might scale back its bond-buying. Photograph: Reuters/Gary Cameron

The recovery in global banks’ balance sheets is under threat from a surge in bond yields, according to senior bank executives and analysts.Banks have (...)

Royal Bank of Scotland: chairman Sir Philip Hampton has said the bank would be ready for privatisation next year. Photograph: David Moir/Reuters

The idea of splitting Royal Bank of Scotland into a “good bank” – ripe for reprivatisation – and a state-run “bad bank” holding RBS’s toxic assets ha(...)