Citigroup (C) has hired JPMorgan executive Viswas Raghavan as become its new Head of Banking. The move is part of a corporate restructuring for Citi, which has been lagging behind its big bank rivals.
CFRA Research Director of Equity Research Ken Leon joins Yahoo Finance to discuss the reasons behind his upgrade of Citi shares and how the bank may operate moving forward.
Leon elaborates on his bullish attitude: “Citi was this octopus with very complex, confusing business units. You were never sure what was Citi at the end of the day. By streamlining into areas like a services segment, such as corporate treasury services, they’re number one in the industry on that, and showing some of the more stable and growing businesses, it gives us c…
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