Citigroup, Once Top U.S. Bank, Slips to No. 4 Behind Wells Fargo

January 15, 2016 1:30 PM

36 0

Citigroup Inc., which pioneered the era of global megabanks before almost collapsing in the financial crisis, just slid behind Wells Fargo & Co. to rank as the nation’s fourth-biggest lender.

The latest hand-off underscores the difference in their strategies. Wells Fargo Chief Executive Officer John Stumpf has amassed deposits and snapped up assets from other lenders to spur growth. Citigroup CEO Mike Corbat, in contrast, has exited businesses and sold branch networks in some countries t...

Also read: Swiss see opening for finance sector in British exit from EU

Read more

To category page