Corbat Says Citi Won't Charge for Fixed-Income Research

The transcript discusses Citigroup's international presence and its strategic approach to Brexit, emphasizing the company's existing operations in EU countries and its investment in Ireland. It also covers the potential relocation of employees due to Brexit and Citigroup's strategy to maintain business continuity. Additionally, the transcript addresses the topic of research charging in light of MiFID regulations, highlighting the differences between fixed income and equity research pricing strategies.

What strategic move did Citigroup make in anticipation of Brexit?

• They increased their operations in the UK.

• They invested significantly in Ireland.

• They reduced their presence in EU countries.

• They focused solely on the US market.

Why does Citigroup not plan to move many employees out of London post-Brexit?

• They are closing their London office.

• They have a significant presence in EU countries.

• They have already relocated all necessary staff.

• They have a strong presence in the UK.

How does Citigroup plan to handle research pricing for fixed income?

• They will continue without a hard charge.

• They will discontinue the service.

• They will offer it for free.

• They will charge a high fee.

What is the main difference in Citigroup's approach to fixed income and equity research?

• Fixed income research is more expensive.

• Equity research is not provided.

• Equity research is offered for free.

• Fixed income research has not traditionally been charged.

What is Citigroup's expectation from clients regarding their fixed income research?

• Clients will not use the research.

• Clients will demand free equity research instead.

• Clients will recognize its value and send business their way.

• Clients will pay a subscription fee.