While a massive restructuring effort to lay off 11,000 and cut billions from the budget is already underway, Citigroup CEO Michael Corbat sounded a clear message to investors and analysts on Tuesday: I could wield the axe further if necessary.
Delivering the keynote presentation at Citigroup's financial services conference in New York, Corbat outlined a clear and simple set of benchmarks for investors to use in evaluating the company—those include efficiency targets and expected returns on assets.