<\/p>\n
A veteran banking and finance analyst says a New York City-headquartered American multinational bank continues to be his top stock pick.<\/span><\/p>\n In a new interview on CNBC\u2019s Closing Bell, Wells Fargo analyst Mike Mayo says<\/a> he is bullish on Citigroup (C) as the bank sees significant transformation.<\/span><\/p>\n \u201cI was very critical of Citigroup for decades. Their old culture could be characterized as reckless, arrogant and complacent. I think the new culture is one of drive, accountability, transparency and, frankly, enthusiasm.\u201d<\/span><\/i><\/p>\n He says the changes are largely because of the bank\u2019s CEO, Jane Fraser.\u00a0<\/span><\/p>\n \u201cThe biggest, simple and most powerful change is going from 50 years of a global matrix structure, a mishmash, a spider web management structure with dual accountability and dual reporting\u2014it was a mess, to this simple structure of five lines of business CEOs reporting to Jane. Jane Fraser gets credit for that.\u201d<\/span><\/i><\/p>\n Mayo says he sees a lot of upside for Citi, citing that the lender has shown some of the best top line revenue growth despite undergoing restructuring.<\/span><\/p>\n \u201cJane Fraser doesn\u2019t get a Nobel prize for rearranging the management structure this way but they have executed and they can execute\u00a0 on the existing plans. There\u2019s still a lot of upside for Citigroup stock, it\u2019s still my number one pick\u2026Citi is not assuming much deregulation. Citi is having generational restructuring at a time of generational deregulation.\u201d<\/span><\/i><\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A veteran banking and finance analyst says a New York City-headquartered American multinational bank continues to be his top stock pick. In a new interview on CNBC\u2019s Closing Bell, Wells Fargo analyst Mike Mayo says he is bullish on Citigroup (C) as the bank sees significant transformation. \u201cI was very critical of Citigroup for decades. […]<\/p>\n","protected":false},"author":2,"featured_media":427306,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-427299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/427299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=427299"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/427299\/revisions"}],"predecessor-version":[{"id":427307,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/427299\/revisions\/427307"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/427306"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=427299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=427299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=427299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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