{"id":258951,"date":"2010-02-01T09:26:06","date_gmt":"2010-02-01T14:26:06","guid":{"rendered":"http:\/\/blogs.reuters.com\/felix-salmon\/2010\/02\/01\/citi-should-unilaterally-adopt-the-volcker-rule\/"},"modified":"2010-02-01T09:26:06","modified_gmt":"2010-02-01T14:26:06","slug":"citi-should-unilaterally-adopt-the-volcker-rule","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/258951","title":{"rendered":"Citi should unilaterally adopt the Volcker rule"},"content":{"rendered":"

What counts as a core Citicorp holding, and what counts as a Citi Holdings asset which should probably be sold? If you think there’s any kind of coherent philosophy determining such decisions, think again<\/a>:<\/p>\n

\n

Citigroup Inc. plans to sell or split off its $10 billion Citi Private Equity unit…<\/p>\n

Other money-management units marked for sale or closure include the Citi Property Investors real-estate unit, which oversees $12.5 billion; and the Hedge Fund Management Group, which allocates money to hedge funds on behalf of its own investors, the people said.<\/p>\n

Citigroup plans to keep Metalmark Capital LLC, a buyout firm the bank agreed to buy for an undisclosed sum in December 2007…<\/p>\n

The bank also is keeping another fund, Citi Venture Capital International, which focuses on China, India, Central and Eastern Europe and Latin America.<\/p>\n<\/blockquote>\n

Essentially, all this boils down to “if you happen to be in Vikram’s good books this week, he’ll want to keep you, otherwise he’ll decide to sell you”. That’s not a strategy, it’s a monarchy.<\/p>\n

Citigroup’s largest shareholder is the US government, which has made it abundantly clear that it wants all banks — not just Citi — to sell off all of their hedge-fund and private-equity operations. Pandit should get out in front of this rule, and put the entire Citi Capital Advisors operation, along with all the rest of his buy-side operations, on the block. It’s not like they ever moved the needle in any case.<\/p>\n","protected":false},"excerpt":{"rendered":"

What counts as a core Citicorp holding, and what counts as a Citi Holdings asset which should probably be sold? If you think there’s any kind of coherent philosophy determining such decisions, think again: Citigroup Inc. plans to sell or split off its $10 billion Citi Private Equity unit… Other money-management units marked for sale […]<\/p>\n","protected":false},"author":398,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-258951","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/258951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/398"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=258951"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/258951\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=258951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=258951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=258951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}