5/19/2023 0 Comments Conspire conference 2013Let me take a minute and I’ll put our current priorities into concept. Having said that, we still have many opportunities to improve on our execution. In certain products and geographies, I believe we are well positioned with the right set of clients and appropriate allocation of resources to deliver strong return. But we recognize that our network only has real value if we can deliver on behalf of our clients and our shareholders and deliver a return on equity that exceeds our cost of capital. If a financial institution doesn’t already have a significant global presence, its ability to recreate our footprint inorganically through significant M&A or organically through building, is extremely limited in today’s challenging regulatory and economic environment. And in fact, our global network is becoming more unique and more valuable every day. Out target client base is one which values our global network and the scale and scope of our franchise is designed to serve their needs.Īs you know, may firms speak about themselves in terms of products, but for us it’s the markets in our network which allow us to service our clients in a differentiated way. We want to be a leading provider of financial services to the world’s largest multi-national corporation and investors and to provide best-in-class financial consumer banking to high quality customers in the world’s largest city. To begin with, as I said in the past, I believe Citi strategy is the right one and its well aligned against the global trends. But today what I’d like to do is share with you my perspectives on our business and importantly my priority as we move forward. In my first five months as CEO I spent a lot of time reviewing our businesses, from the pleasure process to our CCAR submission, the meetings with our clients, our investors, our regulators and then my travel, seeing first hand both the opportunity and the challenges in our company. I thank all of you for coming and joining us today.
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