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By Brahma Chellaney
Beijing's creeping aggression signals a challenge to U.S. presence in the Asian Pacific
Independent voices from the The Washington Times Communities
Topic - Gerard Cassidy
The incredible shrinking bank may have to shrink more. In the hours after Tuesday's surprise announcement that Citigroup CEO Vikram Pandit was stepping down, speculation was rife, and facts scant, about what lay ahead for the nation's third-largest bank.
"It's going to get a lot smaller," said Gerard Cassidy, a longtime banking analyst at RBC Capital Markets. "You've got to shrink to make big money."
"When he ran Bank of Hawaii, he shut down up to 50 percent of its branches. It's a startling number," said Cassidy.