Citigroup (C) Q1 FY24 Earnings Review - Coverage Initiation
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Yimin Xu, Jun 03 2024
Citigroup’s Overall Business Model and Activities
Citigroup (“Citi”) operates five main business segments: banking, markets, services, wealth, and US Personal banking.
Banking provides investment banking, corporate lending, and advisory services.
Markets engage in fixed income, equities, and spread products trading.
Services include Treasury and Trade Solutions (TTS) and Securities Services.
Wealth focuses on wealth management services, including investment fee revenues.
US Personal Banking (USPB) comprises branded cards, retail services, and retail banking.
For those who are curious about the insider life on Citi’s trading floor, I recommend Gary Stevenson’s latest book, “The Trading Game: A Confession”. Several years older than me, Gary and I share incredibly similar career backgrounds – we both went to the London School of Economics and traded FX swaps and Short-Term Interest Rate Swaps (STIR) in London, before quitting “the game”. Recognising almost every detail of his version of life on London’s trading floor (as well as LSE), I assure you nothing was of exaggeration.