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Express News Service NEW DELHI: American banking major Citigroup is slimming down its sprawling consumer operations as part of a broader strategic review under new chief executive officer Jane Fraser to focus on wealth management business since it lacks the scale to compete in the retail space. On Thursday, the third largest bank in the US said it will exit retail banking operations in 13 countries across Asia and parts of Europe, which includes India and China, Australia, Bahrain, Indonesia, Korea, Malaysia, Philippines, Poland, Russia, Taiwan, Thailand and Vietnam. “As a result of the ongoing refresh of our strategy, we have decided that we are going to double down on wealth. While the 13 markets have excellent businesses, we don t have the scale we need to compete, Fraser said, while announcing its quarterly results. Citigroup will now operate its global consumer banking business solely from four markets: Singapore, Hong Kong, London and the UAE. It will, however, co ....