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Citigroup Divides in Two

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Citigroup Divides in Two

Here is the press release: http://www.citigroup.com/citi/press/2009/090116b.htm

 

Citigroup will divide into Citicorp and Citi Holdings. Citicorp is the old Citibank, and will keep the credit cards in the Retail Bank division.

 

Citi Holdings will hold CitiFinancial and CitiMortage as Citi has been reported in the WSJ, NYTimes, and CNBC as looking for opportunities to sell those division in order to repay the Fed loans.

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