Our focus? Our clients. Period.

A company always needs to find a happy medium between the customer and its shareholders. While, yes, it can focus on one or another more, the medium is the best route. Keeping customers happy will create a better image, thus, more business, and in return, better results for its shareholders.

As both a customer of Citibank, Citicards, Citi Personal Wealth Management, and other Citi subsidiaries, and a shareholder of Citigroup, I can say Citi is moving towards a better medium. While there have been some missteps, but it happens with every company.

At the same time, while there may be 10,000 unhappy clients voicing their opinions, there are 200 million customers with Citi, worldwide. Those who have issues will want to tell everyone they can about them, while customers who are happy won't have as much as a voice. 'tis the way of life.

It all depends, in reality, on who you're listening to.

- JM.

I don't understand how shutting down your entire Canadian retail banking operation can be considered an example of your focus being "Your clients. Period." Your Canadian retail clients are surely your clients too, aren't they? I think you have probable received advice to focus on your (perhaps more profitable) credit card division of the Canadian business. But if your consultants have told you that your credit card customers who also use the retail service will be happy to stay with you for the credit card service, after you eliminate the retails service, please do go beyond the information provided by the consultants and speak to the customers themselves. I am one of those customers and I am very disappointed to see you think about closing down retail banking. Please reconsider.

Fe, what proof do you have that breaking up Citi in smaller pieces will bring any value to anyone. Certainly not share holders! Certainly not customers. Citi is currently being "right sized" by selling off non-core businesses to ultimately best serve customers and share holders. Sometimes you have to believe in change and right now, the management team under the guidance of Vikram Pandit is doing the right thing. Citi is the symbol of America, don't smear dirt on it and let them do their job to improve and come out better for everyone! Patience is key!

Citi Friend, Jason--you are right of course that a business depends on its customers. And keeping those customers happy is important.

I am not addressing that issue nor whether Citi has done a good job of focusing on customers. But what it HAS done is ignored the many shortcomings of the "financial supermarket" model it is based around (including how little that model actually serves customers--any of you know anyone who does their investing, banking, mortgage etc. all through Citi?), in part because of the ego and hubris of its managers who a) don't want to admit the model they championed isn't successful and b) would rather run a titanic, global company than a smaller one.

Customers AND owners would be best served if Citi were broken up. Then each of the smaller pieces could focus on delivering maximum value to its owners through customer service instead of spending tremendous amounts of time and energy trying to integrate with the other parts of this dysfunctional company.

To Fe and John Halle--

How silly you both are! There is no company, no profits, no shareholders without customers. As "owners", you should know that by building your customer base, you build your profits.

The comments above are troubling. Stockholder value is important and should be a driving force behind corporate decisions but I don't believe it should be the only force. Also, if you are the "owners" then how did you lazy stockholders allow this to happen?

Overall, the discussions about the focus or responsiblity of a corporation is interesting and should be discussed. Luckily though I don't have to go through all that. I don't like how this corporation has treated it's customers and I don't like how this corporation has literally driven our country into the ground, therefore I have move all my money out of Citi and put it into a small local credit union. I've paid off my citi credit card and canceled it. I'm not playing with these people again until I feel they care about the country that's made them so rich.

The foundations of capitalism are not undermined. We the people just need to realize that we have the power to control more than we think we do. Take the power back!

During the fall of 2009, Citi Cards sent out rate increase notices to certain customers. The notices provided two options: opt out and close their accounts, which would allow customers to maintain their current interest rate, or do nothing and accept a 29.99% interest rate.

When the letters hit mailboxes, some people who recieved them contacted me via my blog to complain. Unfortunately, many recipients of the letter either never opened or possibly never recieved it. Letters do get lost in the mail.

A few days ago, I began hearing from customers who never saw an opt out notice and are now facing 29.99% interest rates. One such client reported that when she called customer service, she was told to seek credit counseling. This was a client who simply wanted to repay her debts at a 14.99% interest rate and who would have chosen to opt out if she had the chance.

If the words you speak in this video are true, you need to help these clients, not turn your back on them.

Good point Fe. Since when is any business run for the benefit of its customers?

It's whole purpose is to return profits to its shareholders by any means necessary, fair or foul.

CITI has admirably demonstrated the truth of this proposition in many ways-most notably in its deceitful marketing of subprime mortgages.

Thanks, CITI, for helping to undermine the foundations of capitalism!