Home>Citigroup to Sell Delaware Trust Company to Reliance Financial
Citigroup to Sell Delaware Trust Company to Reliance Financial
Financial Planning News
Wed, 23 Jan 2013
The transaction involves approximately 3,000 accounts and $1.7 billion in assets under administration, which represent non-target business for Citi Private Bank's trust business.
DoubleLine CEO, CIO, and portfolio manager Jeffrey Gundlach says if Citigroup was too big to fail, then so much greater is the risk for asset managers operating with multiples of that market cap.