Citigroup chief executive Vikram Pandit is set to present his plans and outlook for the largest U.S. bank, when it holds its annual Investor Day meeting on Friday.
The four hour meeting with investors and analysts at the company's headquarters in New York, will be an opportunity for the newly-appointed Pandit to answer questions about where the struggling bank is headed.
He has been reviewing the state of the global firm with 369,000 employees in over 100 countries since the start of his tenure five months ago. He has also presided over organizational changes.
The bank has seen sharp losses in the past three quarter due to bad investments linked to the struggling U.S. housing market. In the most recent quarter, the bank lost $5.1 billion and wrote down $14 billion of its assets. It has also made dividend cuts during the period.
Since the start of the housing and credit crises last summer, the company has lost billions of dollars in writedowns and credit losses. It has raised more than $44 billion in capital to shore up its books during that time.
As a result, the bank's shares have fallen more than half since their most recent major peak at the end of 2006.
Pandit, 51, was named to the chief executive position at Citigroup late last year after former CEO Charles Price announced his resignation citing the bank's recent failures.
Pandit has made management changes, including the hiring of outside executives. He has also emphasized greater communication and cooperation among top executives.
In transactions, the bank has sold stake in its commercial lending and leasing unit, CitiCapital. It has also cut back on mortgage lending and has sold off billions of dollars in loans. He has also helped reorganize the bank's largest unit, its wealth management business.
Citigroup will announce as much as $400 billion in assets that could be sold as part of plans to restore profitability at the bank, people close to the situation told the Financial Times.