Citi to sell wealth alternatives unit to fintech firm iCapital
1. Citigroup sells its wealth alternatives unit to iCapital. 2. This move aims to simplify Citigroup’s business structure.
FAQ
Why Bullish?
Selling non-core assets often leads to improved focus and efficiency. Historical cases, like UBS's divestment in 2012, demonstrate enhanced profitability post-simplification.
How important is it?
The sale aligns with Citigroup's strategic vision, likely enhancing operational efficiency and profitability. Investors often perceive such decisions positively.
Why Long Term?
Changes in corporate structure typically yield gradual benefits over time. Long-term savings and focus can enhance shareholder value significantly.