Citigroup CEO says to sell, run off non-core assets
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Fri, 09 May 2008 13:03:15 GMT |
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Reuters |
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US (Business) |
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NEW YORK (Reuters) - Citigroup Inc Chief Executive Vikram Pandit said on Friday that nearly $500 billion of non-core assets would be "be sold or run off over time." , Speaking at an investor presentation, Pandit said the company's goal was to increase return on equity to 18-20 percent and that he targeted 8-10 percent annual revenue growth. He added that the restructuring could result in improved results early, but that program requires "patience."
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