Michael Corbat is taking a victory lap — and Wall Street is loving it.
The New York Post reports that Citigroup on Tuesday held its first outing for investors and analysts since the financial crisis — and the bank’s chief executive announced that Citi’s nine years of downsizing has come to an end.
“Our restructuring is over,” Corbat said during the New York conference.
The bank has been selling off $800 billion in its crisis-era assets, closing offices around the world and has laid off about 40,000 people, according to the company’s presentation.
But now, Corbat said, they’re ready to start building back up again.
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