The new Citigold program for affluent customers is more than a product — it is the centerpiece of Citigroup's vision for the future, which will also rely on branch closures and sophisticated apps.
The Portland, Ore., company outlined a plan to boost its return on tangible common equity to between 13-15% by 2020. More details will be provided by fall, executives said.
The CEO of Keefe, Bruyette & Woods, a top matchmaker for bank mergers, explains why large banks will soon return to dealmaking after a long absence, the case for starting new banks and the enduring value of branches.
Energy sensors will let JPMorgan Chase master-control everything from office temperatures to sprinkler systems in an attempt to preserve the scale of its branch network but lower the costs.
Community banks are less likely to close branch locations than their larger counterparts. But those branches should mix technology with the homespun local flavor customers have come to expect.
