Sumitomo Mitsui President Teisuke Kitayama, second left, and Citigroup Inc.'s Vice Chairman Stephen Volk, second right, talk along with from left, Sumitomo Mitsui Banking President and Chief Executive Masayuki Oku, Nikko Cordial Securities Inc. President Eiji Watanabe and Nikko Citigroup director Douglas Peterson after a press conference in Tokyo, Japan, Friday, May 1, 2009. Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said Friday, as part of a bigger plan to restructure the struggling U.S. bank. The deal is Japan's first acquisition of a leading brokerage by a bank. AP Photo logo AP Photo 6 months ago

Sumitomo Mitsui President Teisuke Kitayama, second left, and Citigroup Inc.'s Vice Chairman Stephen Volk, second right, talk along with from left, Sumitomo Mitsui Banking President and Chief Executive Masayuki Oku, Nikko Cordial Securities Inc. President Eiji Watanabe and Nikko Citigroup director Douglas Peterson after a press conference in Tokyo, Japan, Friday, May 1, 2009. Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said Friday, as part of a bigger plan to restructure the struggling U.S. bank. The deal is Japan's first acquisition of a leading brokerage by a bank.

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  1. A man stands outside a Citi bank branch in New York August 13, 2009. Kenneth Feinberg, 63, may face his toughest challenge yet as the Obama administration's pay czar, exerting authority over the highest-paid employees at massive companies bailed out by U.S. taxpayers. Friday is the deadline for several companies that received taxpayer bailouts, including Citigroup Inc, American International Group Inc, Bank of America Corp, Chrysler Financial, Chrysler Group LLC, General Motors Co and GMAC Inc., to submit their plans for compensating their 25 highest-paid employees.
  2. Alexandra Patz watch as Jessina Carroll, a nurse at the Ryan Chelsea-Clinton Community Health Center, administer a swine flu vaccine nasal mist to her son Douglas, 4, in New York, Thursday Nov. 5, 2009. The private nonprofit health center has seen a steady flow of individuals asking for the vaccine. "There was no wait," said Patz, who also got the vaccine along with her son. "It was painless and I am glad I did it." Some of New York's biggest companies, including Wall Street giants Goldman Sachs and Citigroup, received doses of swine flu vaccine for at-risk employees, drawing criticism that the hard-to-find vaccine is going first to the privileged.
  3. Charts shows quarterly earnings for Bank of America, Citigroup, JPMorgan Chase & Co. and Goldman Sachs Group Inc. since the third quarter of.
  4. Charts shows quarterly earnings for Citigroup, JPMorgan Chase & Co. and Goldman Sachs Group Inc. since the third quarter of 2008.
  5. Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse speaks during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  6. Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse speaks during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  7. Nan Shan Life Insurance Chairman Edmund Tse speaks during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  8. Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse speaks during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  9. American International Group's (AIG) Executive Vice President and Chief Operating Officer for the Greater China and India Region Richard L. Bender, Nan Shan Life Insurance Chairman Edmund Tse and Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse (L-R) give a thumbs up during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  10. American International Group's (AIG) Executive Vice President and Chief Operating Officer for the Greater China and India Region Richard L. Bender, Nan Shan Life Insurance Chairman Edmund Tse, Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse, and Nan Shan Life Insurance President and Chief Executive Frank Chen (L-R) attend a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  11. American International Group's (AIG) Executive Vice President and Chief Operating Officer for the Greater China and India Region Richard L. Bender, Nan Shan Life Insurance Chairman Edmund Tse, Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse and Nan Shan Life Insurance President and Chief Executive Frank Chen (L-R) shake hands during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  12. American International Group's (AIG) Executive Vice President and Chief Operating Officer for the Greater China and India Region Richard L. Bender, Nan Shan Life Insurance Chairman Edmund Tse, Primus Financial Managing Director, Chairman and Co-Chief Executive Officer Robert Morse and Nan Shan Life Insurance President and Chief Executive Frank Chen (L-R) give a thumbs up during a news conference in Taipei October 13, 2009. AIG struck a deal to sell its Taiwan life insurance for $2.15 billion, marking its largest disposal of a division since a government bailout last year saved it from collapse. Primus Financial, a new firm founded by Citigroup's former Asia investment banking head, together with a Hong Kong partner, agreed to buy Nan Shan Life, ending a five-month auction that saw big interest from many corporates and private equity bidders.
  13. A security guard gestures to the photographer to stop taking pictures, inside the Nanshan insurance headquarters building in Taipei October 13, 2009. American International Group (AIG) has agreed to sell it's Taiwan life insurance unit for $2.15 billion, a key step in its effort to raise cash after a U.S. government bailout last year saved the company from collapse. Primus Financial, a new firm founded by Citigroup's former investment banking head in Asia and a Chinese partner, has agreed to purchase Nan Shan Life, AIG said on Tuesday.
  14. A man walks past a Nanshan logo outside an insurance office building in Taipei October 13, 2009. American International Group (AIG) has agreed to sell it's Taiwan life insurance unit for $2.15 billion, a key step in its effort to raise cash after a U.S. government bailout last year saved the company from collapse. Primus Financial, a new firm founded by Citigroup's former investment banking head in Asia and a Chinese partner, has agreed to purchase Nan Shan Life, AIG said on Tuesday.
  15. The Nanshan insurance headquarters building is pictured during noon in Taipei October 13, 2009. American International Group (AIG) has agreed to sell it's Taiwan life insurance unit for $2.15 billion, a key step in its effort to raise cash after a U.S. government bailout last year saved the company from collapse. Primus Financial, a new firm founded by Citigroup's former investment banking head in Asia and a Chinese partner, has agreed to purchase Nan Shan Life, AIG said on Tuesday.
  16. In this Oct. 12, 2009 photo, a Citibank sign is seen outside of the business, in Woburn, Mass. Citigroup has provided a sobering reminder that the economy is still struggling, saying Thursday, Oct. 15, 2009, its third quarter results were weighed down by billions of dollars in failed loans.

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