CreditSights Analyst Joins The 'Breakup Citi' Team

CreditSights Ltd. analyst David Hendler abandoned his defensive stance on Citi and is calling for the financial services giant to be broken up, according to an American Banker ($$) article:

Mr. Hendler said he would divide Citi into four parts that would be easier to sell: U.S. retail, cards, and commercial businesses; international retail, cards, and commercial businesses; investment banking; and retail brokerage and private banking. That would also make the investment bank available for a management buyout.

Hendler also mentioned in his research note that he came across not one, but two out-of-service Citi-branded ATMs during a recent outing to the New York Mets’ home, Shea Stadium. Hopefully, the ATMs will be up and running when the Mets move to Citi Field in 2009...

Comments

[BamBam:]

Mr. Hendler's proposal seems very familiar to me for some reason.

2007 Jun 11 02:01 PM