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


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.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.