Corossis

Why Citi Can't Be a Global Universal Bank

Felix, in your first criticism, it sounds like you are interpreting 'universal' as 'omnipresent'. I don't think you need to be in every big US city to be considered 'universal'. To me, it just means that you have enough retail operations to be substantially consumer deposit-funded. In the same spirit, being a 'global' universal bank doesn't mean that you are in every big city in every country. It simply means that you are able to conduct and facilitate business globally, having a non-trivial presence across most products. I don't think it means you have to deliver everything to everyone (a 'God' bank). Cheers