Citigroup CEO To Split Its Biggest Division To Gain More Control: Report
Portfolio Pulse from Lekha Gupta
Citigroup Inc is reportedly considering splitting its largest division, Institutional Clients Group (ICG), into three primary business segments. The move is expected to give CEO Jane Fraser more direct control over operations. ICG, which generated revenue of around $10.4 billion in Q2 FY23, offers financial services to institutional investors and governments. The transaction will be the bank's most significant shake-up of its corporate structure in nearly 15 years. The bank also recently closed the sale of its Taiwan consumer businesses to DBS Group Holdings Ltd.
August 21, 2023 | 9:38 am
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Citigroup is considering a significant corporate restructuring by splitting its largest division, ICG. This move could potentially increase operational efficiency and control.
The proposed split of Citigroup's largest division, ICG, into three segments could potentially increase operational efficiency and control. This could positively impact the company's performance and, consequently, its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
DBS Group Holdings recently acquired Citigroup's Taiwan consumer businesses, which is expected to drive a capital benefit of about $1.2 billion.
The acquisition of Citigroup's Taiwan consumer businesses by DBS Group Holdings is expected to drive a capital benefit of about $1.2 billion. This could positively impact the company's financial performance and, consequently, its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
DBS Group Holdings recently acquired Citigroup's Taiwan consumer businesses, which is expected to drive a capital benefit of about $1.2 billion.
The acquisition of Citigroup's Taiwan consumer businesses by DBS Group Holdings is expected to drive a capital benefit of about $1.2 billion. This could positively impact the company's financial performance and, consequently, its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50