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 are the reasons mentioned for the new CEO's strategic review?

Which markets is the company exiting according to the text?

What is the expected timeline for the announcements regarding the divestitures?

What is the significance of the wealth advisory hub being built in Singapore?

How is the company planning to centralize its services in Asia?