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

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.