Citi to Exit Retail Banking in 13 Markets Across Asia, Europe

The transcript discusses the new CEO's familiarity with the business domain and the strategic review being conducted to enhance competitiveness. It highlights the pressure from regulators to improve internal controls and the bank's plan to exit certain markets, including Australia and parts of Europe. The timeline for these changes is not fully outlined, but some sales processes have begun. The bank aims to maintain its presence in Asia by centralizing services in key wealth centers like Singapore and Hong Kong.

What is one of the main reasons the new CEO is focusing on scaling the business?

• To reduce the number of employees

• To diversify into new industries

• To compete with local rivals

• To increase the number of branches

Which markets is Citi planning to exit as part of its strategic review?

• Australia, Bahrain, China, India, Indonesia, and some in Europe

• Russia, Ukraine, Poland, Hungary, and Czech Republic

• Japan, South Korea, Vietnam, Thailand, and Malaysia

• United States, Canada, Mexico, Brazil, and Argentina

What is expected to happen before the end of the quarter regarding Citi's market exits?

• Finalization of all sales

• Announcement of interested bidders

• Opening of new branches

• Completion of regulatory approvals

How does Citi plan to maintain its presence in Asia despite exiting some markets?

• By opening new branches in every country

• By partnering with local banks

• By centralizing services in wealth centers

• By increasing marketing efforts

Where are Citi's wealth centers located?

• New York, Los Angeles, Chicago, and Miami

• Tokyo, Seoul, Beijing, and Shanghai

• Paris, Berlin, Madrid, and Rome

• Singapore, Hong Kong, UAE, and London