Finance

Smith Expert and Former Citigroup Executive Cliff Rossi Comments on Citi Job Cuts

MEDIA ALERT: December 5, 2012

Robert H. Smith School of Business finance professor and former Citigroup Inc. senior executive Cliff Rossi has weighed in on Citi’s plans to cut 11,000 jobs from its global consumer-banking unit. The move entails closing 84 branches, including 44 in the U.S.:

“These latest cost-cutting measures get Citi focused back on efforts to improve their operating efficiency relative to their peers. Citi's dollars of revenue generated per employee lag behind their competitors and so this announcement is not surprising.

UMD-Smith Finance Expert Cliff Rossi Comments on New Mortgage Lending Rules

Cliff Rossi, Tyser Teaching Fellow and executive-in-residence at the University of Maryland’s Robert H. Smith School of Business, is available to comment on new home lending regulations set forth by the Consumer Financial Protection Bureau. The bureau's “Ability to Pay” rule is designed to assure the reliability of mortgages. It addresses portions of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act focused on consumer ability to repay home loans.

Center for Financial Policy Hosts Distinguished Speaker Event Series

Jaime Caruana, General Manager for the Bank for International Settlements (BIS)

Jaime Caruana

The Center for Financial Policy at the University of Maryland’s Robert H. Smith School of Business hosted Jaime Caruana, General Manager for the Bank for International Settlements (BIS), on April 15, 2013 as part of the center’s Distinguished Speakers Event Series.

Smith Students Attend Berkshire Hathaway Annual Meeting

University of Maryland Robert H. Smith School of Business finance faculty members David Kass and Elinda F. Kiss and eight Smith undergraduates recently traveled to Omaha, Neb., to attend the annual shareholder meeting for Berkshire Hathaway, the conglomerate holding company chaired by Warren Buffett.

Kass, who writes a blog about Buffett and Berkshire Hathaway, described the event as an “eye-opening” experience into the investment world for the students, while Kiss said it was a great opportunity for students to learn what a shareholders meetings is like.

Smith Finance Fellows Visit Federal Reserve, FDIC

Robert H. Smith School of Business finance faculty member Elinda F. Kiss recently took student groups to visit the Federal Deposit Insurance Corporation and Federal Reserve buildings in Washington, D.C.

The trips consisted of University of Maryland undergraduate students enrolled in Kiss’s Banking and Private Wealth Management Fellows Program and Master of Science students from her Bank Management course.

Richard Kolodny

Richard Kolodny specializes in investment decisions, financial strategy, and corporate restructuring. He is the author of more than 40 publications, with articles in such leading journals as the Journal of Finance, Review of Economics and Statistics, Journal of Financial and Quantitative Analysis, Rand Journal of Economics, Journal of Accounting Research, and Journal of Banking and Finance. His recent research focuses on mergers and acquisitions and on international investments.

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