The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Russia sale is a fly in the ointment among Citi’s consumer exits

Jane Fraser can front Citi’s investor day with good news about consumer divestments in Asia. It is hard to see a Russia sale now, though.


Jane Fraser presents Citi’s annual investor day on Wednesday, which includes both a review of developments under her watch to date and a plan for what comes next.

For some time, she has hoped to be able to tell investors that her bold plan to exit consumer operations in 13 markets, mostly in Asia Pacific, is largely complete, and that the proceeds and the freed-up capital can soon be deployed in institutional and wealth businesses where she believes better returns can be found.

In the main, she can. We can argue about the merits of the plan itself, but under the parameters that she set, the divestment has gone about as well as she could have hoped.

Citi has successfully sold business in Australia, Taiwan, Malaysia, Indonesia, Thailand, Vietnam and the Philippines. It has done so in a way that has preserved the jobs of the departing employees, selling to buyers who make sense not just financially but in terms of their own strategic ambitions, and in clean deals that sell the whole business rather than leaving any loose ends.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?