Been following the turnaround at Citigroup Inc. and it looks like the restructuring strategy might finally be paying off.
Management has been simplifying the organization, cutting layers of management, and focusing more on higher-return businesses. The goal is to improve efficiency and close the profitability gap with other big banks.
If they actually pull this off, Citi’s valuation discount vs peers could start shrinking. Feels like the market might still be underestimating how big the impact could be. Thoughts?