Citigroup to Shed Assets as a Method for Restoring its Financial Health

(NewsVisual, powered by IntellectSpace) -- In an initiative that appears to be designed to restore investor confidence, as well as to shore up its balance sheet, Citigroup Inc (NYSE:C) plans to sell off huge numbers of assets, according to news reports.

"The banking giant said Friday it will sell at least $400 billion of the $500 billion in assets it identified as 'not central' to its mission, including $170 billion worth of marked-to-market assets in its investment banking division,” Forbes.com reported in an online article on Friday.

“The planned sale, which will take place over the next three years, is more than double what analysts expected," the Forbes article added.

The Directors at Citi now have a strategic plan in place that could reverse the bank’s downward decline and that could help to ensure future earnings for the bank.

NewsVisual created an IntellectSpace Knowledge Map that illustrates key past and current corporate connections of the members of Citi’s Board of Directors in order to assess their abilities in being able to guide the bank toward attaining a turnaround.

The Knowledge Map shows that the bank’s current Directors have a considerable degree of involvement with other corporations.

The most noteworthy board member is, perhaps, Citi Chairman Robert E Rubin.  Mr Rubin is a former United States Secretary of the Treasury during the Clinton Administration.  And he frequently appears on TV news programs as an expert on the financial markets.

It’s also worth mentioning that nine of the Citi Directors depicted in the Knowledge Map are the Chairman of other corporate boards.

For example, Citi Director Richard D Parsons is the Chairman of Time Warner Inc, Citi Director Alain Belda is the Chairman/CEO of Alcoa Inc, and Citi Director Anne Mulcahy is the Chairman/CEO of Xerox Corporation.

To view the remaining Citi Directors and to see the details of their business connections, click here for an interactive and fuller version of this IntellectSpace Knowledge Map.

(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).