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Citi's Gerspach presents at Deutsche conference

  • Execution priorities are 1) Growing Citicorp while improving efficiency 2) Winding down Citi Holdings 3) Capital management and DTA utilization, says Citigroup (C +1.9%) CFO John Gerspach, presenting at the Deutsche Bank conference.
  • Presentation slides and webcast
  • For Citicorp, the efficiency ratio has dipped to 59% for the 12 months ending March 31 vs. 63% in 2011.
  • As for winding down Citi Holdings, a sale of OneMain Financial would mark a major step, and Gerspach says a recent $750M securitization of loans from the business marks big progress towards that goal.
  • The Q&A begins momentarily.
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