Citigroup CEO: Supermarket Banking ‘A Strategy That I Don’t Believe Is Right For The Times’

Citigroup CEO: Supermarket Banking ‘A Strategy That I Don’t Believe Is Right For The Times’: In the late 1990s, Citicorp made waves on Wall Street by pioneering what is known as “supermarket banking” — the idea that financial institutions could provide a host of services, including stock trading, real estate brokerage, and insurance, in addition to traditional deposit banking. Citicorp, led by chief executive Sanford Weill, purchased insurance giant Travelers [...]/p