Citi sources: Tighter controls urged for years at Banamex

CYA maneuvers commence at Citigroup (C) where some former and current senior executives claim to have urged tighter controls in Mexico but were rebuffed by Banamex's managers, reports Bloomberg. 'We dispute assertions by anonymous sources peddling theories that the management team is somehow unaccountable or autonomous," says Citigroup spokesman Mark Costiglio.

Banamex waved off efforts to integrate systems with Citigroup and was slow to improve controls, technology, and corporate governance, say Bloomberg's sources.

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Comments (2)
  • monkey see
    , contributor
    Comments (617) | Send Message
    Citigroup has always had such wonderful management!
    10 Mar 2014, 08:22 AM Reply Like
  • gussieboy
    , contributor
    Comments (32) | Send Message
    The curse of Robert Rubin still lingers.
    10 Mar 2014, 10:15 AM Reply Like
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