MUMBAI: Citigroup Inc is planning to split the operations and technology functions of its unit, Institutional Clients Group, which contributed about 63% of the Wall Street bank’s total third-quarter revenue.
The reorganisation plan for the unit that houses banking, markets, securities services among others was shared by the bank in an internal memo by unit chief executive Paco Ybarra. A Citi spokesperson confirmed the content in the memo when contacted by Reuters.
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