COMPANIES Citigroup is to merge its investment and corporate banking operations in yet another attempt by the troubled US financial conglomerate to break down barriers between its businesses.
The move, which could be announced internally as early as this week, is part of efforts by Vikram Pandit, the chief executive, to restore Citi’s fortunes after it was hit by $50bn-plus in credit-related losses and had to be rescued by the government.
