Citibank 2012 Annual Report Download - page 8

6
Letter to Shareholders
Second, I want Citi to be known for making smart decisions
in every aspect of our work. It is imperative that Citi be a
firm with the right focus on efficiencies and is smart about
risk — both in terms of dollars and reputation — as well as
investment performance and growth. And we’ll build a culture
of accountability and judge our people on the decisions they
make and the results they deliver — or fail to deliver.
Third, I won’t be satisfied until Citi has completely rebuilt our
credibility with all our stakeholders. Ultimately, our results will
speak for us. My goal is for Citi to be seen around the world,
and by all our stakeholders, as an indisputably strong and
stable institution.
How do we get there? One word: execution.
As I said when I stepped into the role, while our core strategy
is not changing, the intensity with which we focus on
execution and on operational efficiency will increase. We’ve
refined our management structure in ways that delegate
authority to the appropriate levels.
Throughout my career, I have always believed that “you are
what you measure.” I’ve set clear goals around clear metrics
— return on assets, return on tangible common equity and
operating efficiency — and will hold my management team
accountable for them. And I’ve made those targets public
so you can monitor our progress and hold us — and me —
accountable as well.
My team and I will continue to seek ways to refine and
optimize the execution of our strategy and improve operating
efficiency. As a company, we need to show expense discipline
and be what I like to call “maniacal allocators of our
resources.” Success depends on investing our resources in the
right places, in the right businesses, at the right time. We can’t
be everything to everyone. Our business model is simple and
straightforward: to provide the best core banking products
and services to people and institutions through leveraging our
global footprint, which includes the world’s fastest-growing
markets and cities.
We have a unique ability to both lead and follow our clients.
For us, the future is all about seeing where our customers
and clients are going to go and making sure we’re invested so
when they get there or when they need us, we’re ready.
From Ambition to Achievement:
Citi Sponsors 2012 U.S. Olympic
and Paralympic Teams
Last summer, at the London 2012 Olympic and Paralympic
Games, athletes from around the world captured our hearts
by demonstrating what could be achieved when you reach
for your dream. But no athlete stands alone on the podium —
behind each is a network of supporters. In commemoration
of Citi’s 200th anniversary, we are proud to have been the
official bank sponsor of the U.S. Olympic Committee (USOC)
and the 2012 U.S. Olympic and Paralympic Teams.
For our first-ever Team USA sponsorship, Citi announced a
$500,000 donation to the USOC to launch the Every Step
of the WaySM program. Through activity on Facebook and
Twitter, fans and Citi customers helped allocate the donation,
Team Citi, from left, back row: Dominique Dawes, Gwen
Jorgensen, Cullen Jones, Sanya Richards-Ross, Christie
Rampone, Bob Bryan, Meb Keflezighi, Mike Bryan, Danell Leyva,
Kari Miller and Rowdy Gaines; front row: Carlos Leon and
Amanda McGrory.
1Q’08 4Q’10 4Q’124Q’114Q’09
$156
$458
$313
$225
$7971
1Non-GAAP financial measure.
Citi Holdings EOP Assets (in billions of dollars)