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Meet Michael Corbat, Citigroup's New Boss

Broom - Bruno Neves

Like most Wall Streeters, Michael Corbat - the 52 year-old Connecticut native tapped on Tuesday to assume the reins of the troubled mega bank Citigroup - has an Ivy League pedigree and a background steeped in trading, corporate and investment banking.



Sec Building

Deutsche Bank pays $55m penalty

The Securities and Exchange Commission has charged Deutsche Bank with filing misstated financial reports during the height of the financial crisis that failed to take into account a material risk for potential losses estimated to be in the billions of dollars.