Citigroup Inc. has long been valued like a European bank. Its British-born Chief Executive Officer Jane Fraser has reached for a European-style solution, but so far investors aren’t impressed.
The bank is on a mission to reshape its sprawling global businesses and make them simpler and easier to understand. It wants to invest in the parts of the bank that Fraser thinks can deliver the best returns and either sell or wind down those that can’t.
In reporting its full-year results on Friday, Jan 14, Citi also said it would change how it groups the results of the businesses it is focusing on to let its better-performing units show off their returns and separate the other stuff. That’s a very European move.
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