The Path Forward: Key Takeaways from Citi's 2022 Investor Day

The preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in our home market.

This is our vision for Citi. At our 2022 Investor Day, we explained how this vision has informed our strategy, detailed how we’ll execute, and shared the results we intend to deliver.

Here are the key takeaways:

• Our strategy is centered on our competitive advantage: our unique global network. Our ability to work seamlessly across borders completely differentiates us for any client that operates in multiple markets. Our network is seamless, it’s connected, it drives a client’s efficiencies, and it helps them manage all dimensions of their working capital and risk holistically, wherever in the world they operate. For many, it’s simply indispensable.
• We know there’s a clear-cut case for change – and that’s what we’ve been acting on for the last year. We’re bringing an urgency to this work. Within the past year, we’ve completed our strategy refresh and are already implementing that strategy across our five core businesses. We’re executing our consumer divestitures at a rapid pace, and we’ve been doing a meaningful amount of work on our Transformation. We’re also instilling a culture of excellence and accountability and creating greater alignment with our shareholders.
• We’re sharpening our focus on an interconnected mix of growth engines and businesses that can drive higher returns. We’re focused on five core interconnected businesses – Services, Markets, Banking, Global Wealth Management and U.S. Personal Banking. We have accelerated growth engines that generate higher fee growth and are capital efficient – Services, Wealth and the Commercial Bank. In Banking, Markets and U.S. Personal Banking, we’re focused on targeted share gains. This strategy is designed to center the bank on a mix of growing, interconnected businesses that drive higher quality earnings, improve returns, lower our cost of equity and position us for growth.

• We’re strengthening connections between businesses to better serve existing clients and win new ones. These core businesses give us the breadth and scale to meet our clients’ banking needs across products and geographies, and throughout the different stages of their growth.??

• We’re creating a winning team. We’ve promoted our best leaders and change agents to critical roles. They’re operating alongside tremendous new talent, who are joining Citi because they know we’re on a mission, and they want to be part of it.?That’s a powerful combination.
• Our Transformation will give us the agility and scale to better compete in the digital world. We’re hard at work building a modern, simpler and more efficient bank. To get that done, we’re strengthening our risk and controls, industrializing our operating model and flattening our organizational structure. We’re addressing root cause issues because our safety and soundness are non-negotiables, and we firmly believe that our Transformation will make us more efficient and more competitive.
• We believe we can deliver an RoTCE of 11-12% over the next three-to-five years. We’re on a deliberate path to improve our performance. It won’t happen overnight. It will take us a few years of investment and execution to meet our medium-term targets. Longer term, as all the elements of our work come together, we expect additional upside on our RoTCE.
• Accountability matters. We’re committed to driving greater performance intensity and having real rigor and discipline around execution and delivering results. We’ll be transparent and make it easier to track our progress with relevant KPIs. I’m holding my team accountable, just as I know I’m being held accountable. ?

Every day, I see and feel the conviction and determination our team has to seize this moment and reshape Citi for the future. Make no mistake – we’re acting decisively and executing with urgency. I’m confident we’re on the right path, and I’m determined and excited to get this done.