Just as I stated in another thread : The time that North America was the center of world commerce has passed. The time that exports from Canada to the US were the only possibility, have also passed.
Time to wake up and smell the coffee.
The financial giant has raised about $20 billion since November, mostly from sovereign wealth funds. Citi also plans to raise an additional $2 billion through the public sale of preferred securities.
Who's buying: The Abu Dhabi Investment Authority, the world's largest sovereign wealth fund; the Government of Singapore Investment Corp., which manages Singapore's reserves; Saudi Prince Alwaleed bin Talal.
Under new CEO John Thain, the company has raised $12.8 billion from a long list of investors based primarily in Asia and the Middle East.
Who's buying: Sovereign wealth funds like Singapore's Temasek Holdings, Korea Investment Corp., and the Kuwait Investment Authority; Mizuho Corporate Bank, the investment banking unit of Japanese financial giant Mizuho Financial Group.
While the brokerage hasn't suffered as deeply as Citi and Merrill, it has still found it necessary to shore up its capital base. The company received a $5 billion infusion late last year.
Who's buying: The state-run China Investment Corp., which grabbed headlines when it took a stake in private equity titan Blackstone Group last summer.
The brokerage struck a deal with a Chinese investment bank last October, with the two firms agreeing to invest $1 billion in each other.
Who's buying: Citic Securities Co., one of China's largest state-run banks which made a dual listing in Hong Kong and Shanghai last year.