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Citigroup Splits Into Two After Losing $8.3 Billion
CITIGROUP, BANKS, FINANCIALS, EARNINGS, CREDIT, STOCK MARKET
Reuters
| 16 Jan 2009 | 10:21 AM ET

Citigroup, scrambling to survive losses triggered by the credit crunch, unveiled plans to split in two and shed troubled assets, and reported a quarterly loss of $8.29 billion.

The banking giant also said it expected more departures from its embattled board, which is losing former Treasury Secretary Robert Rubin as a director later this year.

URL: http://www.cnbc.com/id/28688568/