Citigroup not likely to change strategy; could push for more buys - report

Citigroup, the New York listed financial firm that’s seen calls to break up the company, isn’t likely to change strategy, reported the New York Times. The report, citing analysts, reported that the appointment of Robert Druskin as head of the company’s corporate and investment bank could mean the company has no plans to change its strategy or oust it CFO Sallie Krawcheck. According to the report, on Thursday at the company’s investor meeting, Citigroup Chief Executive Charles Prince may attempt to convince shareholders that the current strategy is working and that the company needs to increase the amount of acquisitions it engages in. Citigroup has a market capitalization of USD 260bn.