![]() ![]() "And it comes with less risk of big mishaps so the regulatory treatment is better."ĭespite the shift in strategy, though, Citigroup's investment in wealth management hasn't started to pay off. "It offers high returns and it creates growth opportunities in areas that are in the early stages of wealth generation like Asia and the Middle East," according to Mike Mayo, a senior banking analyst at Wells Fargo Securities. It's a tactical move that several other major banks like Bank of America and Wells Fargo have adopted in recent years. ![]() "Ultimately, a lot of the disparate parts overseas didn't really have very many synergies between them."Ĭitigroup instead announced its plans to divert resources and double down on wealth management. "What's been obvious to analysts for a long time is that Citi had become too unwieldy and too big to manage," said Hugh Son, a banking reporter at CNBC. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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