Here's Why Global Banking Empires Are Shrinking

The video discusses how major global banks like Citigroup and HSBC have scaled down their operations to focus on high net worth individuals and institutional investors. Citigroup has reduced its global retail presence significantly since the financial crisis, while HSBC has shifted its profit focus from retail to corporate and investment banking. This trend is also evident in the US, where banks are closing branches in less profitable areas to concentrate on major cities.

What impact did the shift in strategy have on Citigroup's workforce?

What strategy are banks like Citigroup and HSBC adopting regarding their customer base?