Citigroup plans to sell or split off its $10bn Citi Private Equity unit, expanding the list of money-management businesses the US bank is disposing of to reduce debt, reports Bloomberg. Citi Private Equity oversees about $2bn of Citi’s money with the remainder from outside investors. Meanwhile, reports the FT, Vikram Pandit, Citi’s CEO, hit back at critics, insisting his strategy of international growth – particularly in emerging markets – will restore Citi’s performance.

This entry was posted by Gwen Robinson on Monday, February 1st, 2010 at 5:07 and is featured in The 6am Cut London (1 Feb 2010) . Tagged with citi, Citi Private Equity, vikram pandit. Edit this entry.