The Analyst Magazine | Citigroup : Colossal Financial Collapse

The Analyst Magazine:

Citigroup : Colossal Financial Collapse

Article Details

Pub. Date	:	March, 2009
Product Name	:	THE ANALYST
Product Type	:	CORPORATE STRATEGY
Product Code	:	ANCR10903
Author Name	:	N Janardhan Rao and V Ratna
Availability	:	YES
Subject/Domain	:	Finance
Download Format	:	PDF Format
No. of Pages	:	3

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	Abstract
	After reporting bigger-than-expected fourth quarter losses, the beleaguered banking icon is realigning into two businesses and ending its much-maligned financial supermarket model.

Description

The ailing banking giant, perceived as the heart of America's finances, is heralding an end to its financial supermarket model by splitting into two. Smith Barney is the first division to go. Citi is also looking to shed from its traditional arrangement two consumer-finance units, Primerica Financial Services and Citifinancial. It is hiving off unwanted assets and businesses worth more than $850 bn and parting them into a `bad bank' called Citi Holdings. The other part, Citicorp will have its private bank.

Keywords

The Analyst Magazine, Citigroup, Colossal Financial Collapse, Financial Services, Global Banking Sector, Risk Management, Retail Banking, Bank of America, Market Environment, Morgan Stanley, Banking Crisis, Mortgage-backed Securities, Troubled Asset Relief Program, TARP, Market Financial System, Banking Industry.