Citigroup spinning off its Investment Bank?
Can anyone at Citi confirm this? If this actually happens, how will this affect their business?
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Where did you hear this from? Any news you could link to?
that would be great news for C owners, as tremendous value could be unlocked through a Citigroup breakup. I've never bought the universal financial services business model.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aMSfBtScyJ1c
http://www.cnbc.com/id/16110562
There have been rumors about this since the end of the summer.
Not going to happen. No way they're going to give up that balance sheet and undo the last decade of strategic positioning. Citi has climbed from way down in the cellar to currently #2 in the M&A league tables, largely as a result of having strong relationships with PE firms that mostly want its balance sheet.
Citi is trying to be everything to everyone, and may continue to pare back its lower margin lending businesses, but a wholesale spin-off of its i-bank is not in the cards. If anything, you're seeing GS and MS and the other pure play banks merging with corporate banks to increase their assets as well.
Agreed, clients desire one stop service for both advisory and financing.
it actually seems possible nowadays.
The world has changed. And we must change with it.
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