Hedge Funds Infect Citi’s Wealth Unit
Citigroup’s $5.1 billion loss, mainly at the hands of its wealth-management division, shows a pitfall in the “universal bank” model, in which diverse units are supposed to complement each other. It turns out that ailing units can infect each other as well.
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Posted on April 19th, 2008 by
Filed under: stock news
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