According to MSNBC,com http://www.msnbc.msn.com/id/28689056/ Citigroup is breaking up into 2 companies: banking and the investments. This change basically reverts the company back to before the mergers which made Citi the behemoth it was not so long ago. The reason for the mergers was to create a kind of Financial Services one-stop shoping but "the culture and technology over the past decade, however, seem to have shot down that forecast." “In this day and age, with the Internet and access to information, a lot of savvy consumers have figured out that it’s better to shop around,” said Michael Pagano, a finance professor at Villanova University School of Business. “The reality is there are some customers, but not enough, to justify this comprehensive set of services that are out there.” Basically it's easier today to shop around for the best deal via the internet.
According to MSNBC,com http://www.msnbc.msn.com/id/28689056/
ReplyDeleteCitigroup is breaking up into 2 companies: banking and the investments. This change basically reverts the company back to before the mergers which made Citi the behemoth it was not so long ago. The reason for the mergers was to create a kind of Financial Services one-stop shoping but "the culture and technology over the past decade, however, seem to have shot down that forecast." “In this day and age, with the Internet and access to information, a lot of savvy consumers have figured out that it’s better to shop around,” said Michael Pagano, a finance professor at Villanova University School of Business. “The reality is there are some customers, but not enough, to justify this comprehensive set of services that are out there.” Basically it's easier today to shop around for the best deal via the internet.
Here is an article about Microblogging.
ReplyDeletehttp://www.msnbc.msn.com/id/28623823/