Citi To Shrink Consumer Finance Arm In Attempt To Attract Buyers
(Financial Times) — Citigroup is moving to shrink its consumer finance unit, CitiFinancial, closing hundreds of branches across the country, in an effort to make the troubled unit more attractive to buyers. The restructuring of CitiFinancial, one of the cornerstones of Citi’s original plan for an all-encompassing “financial supermarket”, underlines the management’s desire to put the company’s turbulent past behind it.
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