Citigroup loses $8.3 billion, to split in two

The US Daily, 16 Jan 2009, Reuters

NEW YORK (Reuters) - Citigroup Inc , scrambling to survive losses triggered by the credit crunch, unveiled plans to split in two and shed troubled assets, and reported a quarterly loss of $8.29 billion.

The banking giant also said it expected more departures from its embattled board, which is losing former Treasury Secretary Robert Rubin as a director later this year.

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