CitiGroup said on Friday it would split the company into two operations.
The first CitiCorp would hold all the businesses the company wants to keep long term including credit cards, wealth management, the corporate bank and the investment bank. Everything else would go into the Citi Holdings division.
CitiHoldings would basically be a place to hold the assets until they are sold off. The most visible division is Primerica which has been on the market a year with no takers to purchase it.
