Citigroup CEO Jane Fraser said she decided to exit the bank’s retail operations in 13 countries outside the U.S. to improve returns.
One of the biggest priorities for Fraser, who took over for predecessor Michael Corbat in February, is to bring New York-based Citigroup’s returns closer to those of peers including JPMorgan Chase and Bank of America.
“As we look at the businesses over a decade ahead, we want to be a winner,” Fraser told CNBC’s Wilfred Frost on “Closing Bell” in her first televised interview since officially starting as CEO.
“We want to close the return gap with our peers,” Fraser said. “To do that you take a candid assessment of which of the businesses that you’re going to…