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After the announcement of the departure of Citigroup from Mexico in the retail business, the employees of said institution in the country received an institutional email signed by Jane Fraser, executive director of the bank, in which she informs about the decision and, in addition, ensures that work will be done to generate the most attractive results for both your employees and your clients.
“Citi’s path to win requires that we take a critical look at the world as it is today and make well-thought-out, and sometimes difficult, decisions about our business priorities and resource allocation,” details the email consulted by this medium.
Within the document, Fraser highlights the business in Mexico as a “national treasure”, with a talented team that provides banking services to a national client base, with deep roots in communities throughout the country.
However, he highlights, it has been decided that Citigroup is no longer the owner of the retail business in Mexico, as has happened in different parts of the world. “These local banking needs are very different from what is needed to compete in other parts of Citi.”
Fraser recalled that more than a year ago, the bank announced a new course to be able to compete in an increasingly dynamic world, for which as of that date three key axes were defined: creating an institution that generates high-performance businesses; ensure that businesses are well connected to each other and become a simpler entity, to better serve customers.
In this context, the document points out that as its strategy advances, difficult decisions have had to be made, as announced last Tuesday when it left the retail business in Mexico, a country where it has more than 31,440 employees.
In the words of the Citigroup director, this decision will entail changes that will impact the bank in different ways, with the most noticeable impact on its employees who are in the markets where it leaves the retail business, for which she assured that it will work to achieve the best result for them.
“Our success depends on your hard work (of collaborators) and commitment to excellence to produce the results that we are now prepared to deliver. I am excited about the road ahead and what is possible for us, I hope you are too ”, ends the writing.
fernando.gutierrez@eleconomista.mx
