Monday, November 5, 2007

Citi's rivals on the move

--J.P.Morgan bought Chicago-based Bank One Corp. for $58 bil in 2004, new CEO Mr. Dimon from Citi --Bank of America snapped up credit-card maverick MBNA Corp. in a $35 bil deal in 2005, transforming the Charloette bank into a consumer-banking behemoth and creating a new competition for Citi's massive card business --Citi on international front: a.85.6% stake in China;s Guangdone Develpment Bank for $3.1 bil b.Nikko Cordial Corp, 3rd larget borkerage in Japan

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