Berkshire’s now betting on Citigroup as new management takes over
The transaction includes Citigroup’s retail-banking, credit-card and unsecured-lending businesses
Following $122bn in debt sales in 2021, governments and companies will probably front-load much of their funding needs this year
Citigroup raised its fourth-quarter Brent forecast to $85 a barrel
Citigroup ultimately plans to exit retail-banking operations in Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam
The move is part of an ongoing review of the company’s strategy by its chief executive officer
Wassim Al Khatib will lead Citigroup’s investment banking and markets business in Saudi Arabia
She will continue as country officer for the UAE, a role she assumed in 2016
The company was valued at about $500m in a 2019 funding round