Seeking Alpha

"Supermarket banking," as epitomized by the 1998 Citicorp-Travelers merger, isn't right "for the...

"Supermarket banking," as epitomized by the 1998 Citicorp-Travelers merger, isn't right "for the times" nor for Citigroup (C), says CEO Pandit. He again notes Citi's asset disposals over the past few years have been aimed at moving away from the supermarket and back to the core business of banking.
Comments (5)
  • A good move.
    22 Aug 2012, 07:59 PM Reply Like
  • I like it.
    23 Aug 2012, 01:56 AM Reply Like
  • This is a good change of direction which should pay off for shareholders in two to three years.
    23 Aug 2012, 09:19 AM Reply Like
  • Mr.Pandit is selling Citi assets on the pretext that supermarket model is not good for the time. That may be so. But where is that money accumulating? It is not showing up in the stock price. Citi shares are sinking while the company is shrinking.
    23 Aug 2012, 06:28 PM Reply Like
  • Book value.
    24 Aug 2012, 09:50 AM Reply Like
DJIA (DIA) S&P 500 (SPY)