May 9, 2008 9:22AM

Emerging Markets Big Opportunity For Citi

By Donna Fuscaldo

Freiberg has left the stage and Pandit is back. With U.S. markets hurting, Citi seems to be focusing on emerging markets. According to Pandit the middle class in the emerging markets will grow to 1.2 billion by 2030, presenting a big opportunity. He says Citi is structured to compete aggressively in local markets. Citi is growing in Taiwan, India, Brazil, says Pandit, noting the company has grown 27% aboard over the last three years.  As for securities and banking, Pandit says the market capitalization of companies in the emerging markets is expected to grow to 24% in 2012 from 6% in 2001. Pandit said Citi has trading floors in 90 countries. Showing that Citi is going to have restraint in pursuing growth, Pandit says the company will exit unprofitable “client relationships. “You may hear noises about this. I think its good noise,” says Pandit.