When the credit crunch began to bite, Citigroup, the US financial behemoth, swiftly received multibillion-dollar infusions of aid from Abu Dhabi and Kuwait’s sovereign wealth funds.
The investments helped the bank survive the financial crisis, and seemed to underline the close ties the US bank enjoyed with the oil-rich Gulf and its most powerful and wealthy institutions and governments.
However, its subsequent single-minded focus on internal issues seems to have strained ties with the two influential sovereign funds, rival bankers say.
No comments:
Post a Comment