March 11 (Reuters) - Citigroup Inc CEO Pandit, speaking at analyst conference:
* says focusing on 5000 clients who represent 85 percent of revenue
of institutional clients group
* says combining corporate and investment banking force
* says potential is high, 'it's not where i want it to be'
* says North America consumer banking 'is a business where we can do
a lot better'
* says when business cycle turns, it really turns
* says at some point down the road, 'we'll have to think about what
to do with all this capital'
* says Citi financial could be valuable asset in the future, as
economy improves, and funding markets unlock
* says Citi financial can serve underserved part of North America
* says raising of trust preferreds had nothing to do with US
ownership of stock
* says US government has made it clear they want to sell over next
year; lockup expires March 16
* says given where economy and stock is, would not be surprised if
government would think about selling shares
* CFO says government would have to file a shelf statement before selling
shares
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Citigroup Inc click here:) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* says focusing on 5000 clients who represent 85 percent of revenue
of institutional clients group
* says combining corporate and investment banking force
* says potential is high, 'it's not where i want it to be'
* says North America consumer banking 'is a business where we can do
a lot better'
* says when business cycle turns, it really turns
* says at some point down the road, 'we'll have to think about what
to do with all this capital'
* says Citi financial could be valuable asset in the future, as
economy improves, and funding markets unlock
* says Citi financial can serve underserved part of North America
* says raising of trust preferreds had nothing to do with US
ownership of stock
* says US government has made it clear they want to sell over next
year; lockup expires March 16
* says given where economy and stock is, would not be surprised if
government would think about selling shares
* CFO says government would have to file a shelf statement before selling
shares
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Citigroup Inc click here:) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
