Citigroup Sees No ‘Meaningful Investments’ in Securities Unit

By Donal Griffin

Feb. 8 (Bloomberg) -- Citigroup Inc., the third-biggest U.S. bank by assets, said it won’t make “meaningful investments” in the securities and banking unit this year as the lender cuts jobs amid a slump in revenue.

Chief Financial Officer John Gerspach made the comments today during an investor presentation by the New York-based firm.

To contact the reporter on this story: Donal Griffin in New York at dgriffin10@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net

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