花旗分拆的原因和启示  

Breakup of Citigroup:Causes and Implication

作　　者：张颖[1] 

机构地区：[1]中国银行(香港)有限公司发展规划部高级经济研究员

出　　处：《国际金融研究》2009年第3期30-33,共4页Studies of International Finance

摘　　要：美国花旗集团近期宣布了把旗下业务一分为二的战略重组计划,及分步出售了旗下证券经纪业务的股权。这些举措标志着花旗过去10多年创立的"金融超市"模式宣告终结,开始艰难转型。花旗分拆的主要原因是,该行持续亏损需分拆自救、政府施压及其"金融超市"模式不太成功。花旗分拆的启示是,不可轻易断言全能银行模式终结;投资银行业务模式加速转型;金融危机虽仍持续,但出现大型金融机构倒闭的可能性较低;花旗分拆为有实力的银行提供了战略收购的机遇。Recently, Citigroup announced a plan to split itself into ＂good bank＂ and ＂bad bank＂ , as well as sold its security broker Smith Barney. It means that Citigroup＇ s business model of financial supermarket which established 10 years ago is going to the end. The main reasons of the split are its greater-than-expected net loss for successive five quarters, pressure from government and mismanagement of its universal banking model. It should be noticed that Citigroup＇ s mismanagement does not mean that universal banking model itself is a failure. Stuck in financial crisis, investment banks are forced to transfer into a new business model. Financial crisis is evolving, but the possibility of the failure of big banks is relatively low. The split provides a good opportunity for sound banks to acquire good assets.

关 键 词：花旗集团 业务分拆 原因 启示 

分 类 号：F831[经济管理—金融学]