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Citigroup

October 21, 2008

Parmalat, the Italian food and dairy company formally owned by the Tanzi family, has lost its fraud case against Citigroup and been ordered to pay $364.2 million in damages.

Parmalat, the Italian food and dairy company formally owned by the Tanzi family, has lost its fraud case against Citigroup and been ordered to pay $364.2 million in damages.
 
Parmalat went bankrupt in 2003 after revealing that a $5.34 billion account at Bank of America didn't exist and stating that documents certifying the account were falsified.
 

May 15, 2008

The Mays’ family-run media company Clear Channel Communications has reached a settlement with the banks it sued in March for hindering its proposed merger with CC Media Holdings.

The Mays' family-run media company Clear Channel Communications has reached a settlement with the banks it sued in March for hindering its proposed merger with CC Media Holdings.

The settlement is based on an amendment to the merger agreement, which now offers Clear Channel shareholders $36 in cash for each share they own, valuing the deal at $17.9 billion.

November 1, 2006

As family businesses shift their emphasis from building businesses to building philanthropic networks, Charles Raymond, managing director and philanthropic adviser for Citigroup’s Global Wealth Management Group tells Families in Business about the new trends

As family businesses shift their emphasis from building businesses to building philanthropic networks, Charles Raymond, managing director and philanthropic adviser for Citigroup's Global Wealth Management Group tells Families in Business about the new trends

Families in Business (FIB) Tell me about your background and how you got involved in advising Citigroup's ultra high net worth clients on philanthropy.

November 1, 2006

Competition is hotting up in the wealth management business, which means a greater choice of products, with banks battling for clients. Richard Willsher examines a few of the new entrants, and some old players, and asks what they can offer family businesses

Richard Willsher is a finance and business writer with a background in international investment banking. www.richardwillsher.com

Competition is hotting up in the wealth management business, which means a greater choice of products, with banks battling for clients. Richard Willsher examines a few of the new entrants, and some old players, and asks what they can offer family businesses

September 1, 2005

Swiss family offices, where wealthy families have their money managed, are reportedly embracing outsourcing in a bid to keep pace with the growing cost and complexity of managing investments.

Scott McCulloch is editor of Families in Business.

March 1, 2004

The Fisher, Oetker, Lauder, Sabanci and Johnson families are all collectors of classical and contemporary art, a market that increasingly offers more than just intellectual returns, explains Melanie Stern

Melanie Stern is Section Editor of Families in Business magazine.

The Fisher, Oetker, Lauder, Sabanci and Johnson families are all collectors of classical and contemporary art, a market that increasingly offers more than just intellectual returns, explains Melanie Stern

It is probably one of the most popular collectibles among the wealthy but now commonly classed as an alternative investment outperforming many equities. Art as an investment offers increasingly attractive financial as well as emotional returns.

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