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Article: Citi Said Unloading German Line.(Citibank Privatkunden AG)(Brief article)
- Article from:
- American Banker
- Article date:
- April 28, 2008
- Author:
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Citigroup Inc. is reportedly looking to sell its German retail banking operations.
The $2.2 trillion-asset New York company, which has posted two consecutive quarterly losses, is in the middle of a comprehensive strategic review, and it is restructuring its global consumer banking operations.
As part of the reorganization, in November it brought Sue Harnett, the chief executive officer of Citibank Privatkunden AG & Co. KGaA of Dusseldorf, back to New York.
In recent months, Citi has closed branches and made divestitures of small operations that Gary Crittenden, its chief financial officer, called hobbies rather than part of its core businesses. ...