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Citi Chairman O'Neill not pressing for bank breakup - WSJ
February 21, 2013 / 1:08 AM / 5 years ago

Citi Chairman O'Neill not pressing for bank breakup - WSJ

A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange, October 16, 2012. REUTERS/Brendan McDermid

(Reuters) - Citigroup Inc chairman Michael O‘Neill is not eager to explore a breakup of the third-largest U.S. bank, the Wall Street Journal reported, citing people familiar with the matter.

O‘Neill was among a small group of directors who urged Citi to consider the benefits of splitting the bank after the financial crisis.

But he has concluded that breaking up Citigroup doesn’t make sense now, given economic and regulatory uncertainty, the Journal quoted the people as saying.

Reporting by Aman Shah in Bangalore; Editing by Cynthia Osterman

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