Citi to continue to narrow focus

|By:, SA News Editor

"People shouldn't want us to be everything to everyone," says Citigroup (C) CEO Michael Corbat, holding court at Davos. "We've gone through a pretty significant transformation. We've got the right business mix."

Investors "saw the benefits" of exiting five consumer businesses and restructuring other units last year, says Corbat, and, for now, the bank will continue down this path. Assets at Citi Holdings - Citi's bad bank if you will - fell to $117B in Q4 vs. $156B a year earlier.

"The world’s becoming a better place and again it is up to us to make sure we’re doing the right things ... We’ve got the resources: we’ve built capital, we have liquidity.”