A Focused Franchise with Business Momentum

When I think about Citi today, the first word that comes to mind is pride. We have been rebuilding our credibility, our relationships with regulators, and very importantly, a culture based on ethics and execution. We have a focused business model, compelling competitive advantages and the financial strength to continue to grow our firm. And our business is demonstrating momentum that gives us the confidence that we are now on a path toward steady improvement in returns.

It took a lot of hard work to get to this point. It required an intense focus on efficiently allocating our ample but finite resources to those markets, clients and products that are critical to our future and where we could achieve the best returns. And now these actions are showing tangible results. We've made important investments to improve the efficiency of our infrastructure and improved the client experience. We've returned to growth in Asia and Mexico Consumer while investing in U.S. Cards. We've extended our leadership in franchises like Treasury & Trade Solutions and Fixed Income. And we've positioned ourselves for further share gains in Equities, among other areas.

We still have more to do to deliver the returns our investors expect and deserve, but I like the hand we're playing in today's environment. We have balance across products and geographies, and are well-positioned with respect to the evolving macro-economic and policy landscape. We are competing from a position of strength in regulatory infrastructure, capital and liquidity. Our footprint is not only unique, but effectively impossible to replicate in today's economic and regulatory environment. We have multiple engines for growth – and are poised to capture opportunity anywhere we see it around the world.What's more, no other financial network even comes close to matching our payments capabilities. Across our Consumer and Institutional businesses, we offer more products and services and reach more markets than any other financial institution in the world. Our globally-integrated business model delivers significant revenue, expense and balance sheet synergies – driven by natural product adjacencies, cross-referrals among businesses and shared learning and technology development, infrastructure and risk management.

We'll build on the momentum we've begun to demonstrate by staying focused on our strategy. First, delivering sustainable, client-led revenue growth by deepening our relationships with our target clients. Second, using technology to enhance our capabilities and lower our cost to serve – so we can bend the cost curve and deliver sustainable positive operating leverage. And third, through the optimization of our capital base, including the return of all capital above the amount needed to prudently operate and invest in our franchise.

Citi has crossed an inflection point and is now clearly on a path to growth and stronger returns. I'm excited about our future as we continue to fulfill our mission of enabling growth and progress.

Please visit our Investor Day website for presentation materials and videos from the event.