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Stock impact report

Citigroup CEO Jane Fraser says of moves to shrink retail banking footprint: ‘We want to be a winner’ [CNBC]

JP Morgan Chase & Co. (JPM)  More Company Research Source: CNBC
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
PDF Key PointsIn this articleVIDEO3:1203:12iti EO Jane Fraser on exiting 13 retail markets outside of USlosing Bell"As we look at the businesses over a decade ahead, we want to be a winner," Fraser told NB's Wilfred Frost on ""We want to close the return gap with our peers," Fraser said. "To do that you take a candid assessment of which of the businesses that you're going to be in a position to succeed in winning, and which ones are perhaps in better hands with another bank."Last week, iti said it wasexiting retail bankingThere are clear areas of opportunity for itigroup, the third-largest U.S. bank by assets behind JPMorgan and Bank of America, the EO said.The bank is "doubling down" in areas including its global institutional banking business and wealth management in Asia and the U.S., she said.And Fraser isn't done with her strategic review that could see more business divestitures, she said: There is "more to come, for sure" in terms of announcements, she said.Become a smarter investo [Read more]
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