Princely sums

So that’s it? After four months of waiting for Chuck Prince to unveil a restructuring of Citigroup, the giant bank has found an extra $2.6bn of fat to cut. That whacks a good portion off the company’s annual costs. So why did shareholders yaw? To be fair, they knew much of this was coming. Robert Druskin was made chief operating officer in mid-December, with a mandate to reduce costs. And the drumbeats have been building for weeks on where these would come from. But that doesn’t fully explain t...