# Prof. Roy Smith on Citigroup's bond underwriting business

1 Faculty News June 18, 2014>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/2014-06-18/citigroup-bond-swoon-exacerbates-loan-fraud-sting-mexico-credit.html) -- "The underwriting slowdown 'is part of an aggregation of things that is affecting Citigroup all at once,' [Roy Smith](http://www.stern.nyu.edu/faculty/bio/roy-smith), a finance professor at New York University’s Stern School of Business and a former partner at Goldman Sachs Group Inc., said by telephone. 'The effort to impose a big increase in internal controls is one that is clearly very labor-intensive.'"

[Read more](http://www.bloomberg.com/news/2014-06-18/citigroup-bond-swoon-exacerbates-loan-fraud-sting-mexico-credit.html)

Additional coverage appeared on [Bloomberg Businessweek](http://www.businessweek.com/news/2014-06-18/citigroup-bond-swoon-exacerbates-loan-fraud-sting-mexico-credit).