Bloomberg is reporting this morning that Citigroup will split into two firms to save itself.
– Citicorp, which will focus on leveraging the competitive advantages of the company’s global universal bank in more than 100 countries
– Citi Holdings, which will be made up of brokerage and retail asset management, local consumer finance and a special asset pool whose management will focus on tightly managing risks and losses, and maximizing the value of these assets.
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