After five years of crisis management and recovery from its near-fatal brush with commercial real-estate lending, Citicorp is implementing its plans for the next century. It intends to be a very different bank from the leviathan that lurched from one crisis to the next in the 1980s. That bank was decentralized, thinly capitalized, poorly managed and diverse.
This one will be the opposite. It will be dominated by just two strong divisions: consumer banking worldwide, and emerging market wholesale banking.
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