Citigroup Inc (NYSE:C) is planning to close its Citigroup Alternative Investments unit

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Dallas, Texas 08/14/2013 (Financialstrend) – In a recent report it has been said that  Citigroup Inc (NYSE:C) is planning to close its Citigroup Alternative Investments unit. The unit comprises Citi Infrastructure Partners (CII) and a memo from the finance managers stated that they had been looking for interest for a 25% share. The finance has previously begun trading its portfolio, together with an investment in a Spanish toll road worker and a stake in United Kingdom water supplier Kelda, container terminal production and an airport worker. Earlier to the financial disaster, the substitute investment unit which was once led by Vikram Pandit had more than $53Billion in AUM. The closure plan is an extension of Chief Executive Officer Michael Corbat’s plan to change the bank on being a bank.

Recently Citigroup named Michael Borch as Chief Operating Officer who has endorsed as COO for the business corporate and investment bank which is in Asia-Pacific. Before this Chris Laskowski had been in the Chief Operating Officer role of Citigroup since 2010 and was concerned in the formation of Citigroup’s China securities joint enterprise. This promotion will authorize Chris Laskowski to give attention only to the position he holds as head of the financial company group, investment banking in Hong Kong and for the region.

The stocks of Citigroup, Inc has reported gain of 1.71 percent and closed at $51.77 per share which had the opening price of $51.04 on Tuesday. The 52-week price range of the stock remained with the low of $28.31 and high of $53.56 while during last trade its intraday low price was $50.74 and it gained its intraday high price of $52.15 per share. The company’s average trading volume is 23.71 million, with the traded volume of 23.82 million shares on Tuesday. Citigroup, Inc. has a total market capitalization of $ 157.43 billion with 69 % institutional ownership and outstanding shares of 3.04 billion.

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