Citigroup, Inc. · NYSE:C
Citigroup — Corporate Update (April 2007)
7 slides from Citigroup's corporate update, Apr 11, 2007
Slide 1: Structural Expense Review: Improving How We Operate
Structural Expense Review Improving How We Operate Robert Druskin Chief Operating Officer April 11, 2007
Slide 2: Key Priorities in 2007
Key Priorities in 2007 Generate Growth in U.S. Consumer Re-weight Towards Int’l Consumer, Markets & Banking, GWM Sharp Focus on Expense Management Credit Management Structurally reduce expense growth Improve workforce management Expand shared services Optimize IT assets Drive other reductions Change
Slide 3: Structural Expense Review Summary of Results
Structural Expense Review Summary of Results * Excludes from the 2006 Expense base of $52.0B the impact from 123(R), Incentive Compensation and Smith Barney commissions. Note: 1Q 2007 repositioning charge of $1.38 billion pre-tax, $871 million after tax. 1Q 2007 repositioning charge of $1.4 billion
Slide 4: Structural Expense Levers
Expanding Shared Services Structural Expense Levers Improving Workforce Management Optimizing IT Assets Platform and system consolidation Server rationalization Improved capacity utilization Organization redesign De-layering Improving span of control Reducing duplicative capabilities Shrinking the s
Slide 5: Summary of Projected Expense Savings
Summary of Projected Expense Savings Global Consumer $650 $1,225 $1,225 Markets & Banking 400 500 500 Wealth Management 175 150 150 Corporate Operations & Technology 375 550 550 Other 100 150 150 Sub-Total $1,700 $2,575 $2,575 Previously Announced Information Technology Optimization 400 1,100 2,000
Slide 6: Looking Ahead
Looking Ahead Implement planned actions Reallocate resources to growth initiatives Pursue additional expense opportunities Change the way we operate
Slide 7: Forward-looking statements
Certain statements in this document are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially f