The articles that just came out about the rumors of Citi seeking to acquire a regional bank speculate about PNC and Truist but it will be USB. The McKinsey mafia will ensure Kedia has a role at the combined organization.
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USB would be a motivated seller and a bargain basement price compared to PNC, Truist or 53rd, given the Union Bank cluster fork, the lending stagnation, the Elavon mismanagement and the various failed initiatives like BNPL, Paze and the focus on social issues, causes and concerns, talent migration to competitors, rather than growth, expansion and smart revenue.
USB isn’t even mentioned.
I’m having a hard time believing they would buy USB, but that would be so fun. Usbhm hired a bunch of former Citi mgmt around 8 years ago and they along with the Wells mgr they hired have tanked the mtg division. It would be fun to see if Citi would tell them goodbye again. I’m sure the 100’s that they have laid off on conference calls would find some humor in this -
If they did ! Including myself - since I was one of the 100’s laid off after many awards and decades of service. Wow was I fooled.
https://www.advisorhub.com/citi-eyes-regional-bank-deal-as-fraser-turns-to-next-chapter/
They know what they are doing, of the big four critical banks, Citi has the best chance of getting an acquisition approved under this administration, Chase got First Republic and the best parts of Silicon Valley Bank, Wells is in the dog house still and BofA is just BofA
What articles? Post the links.
If you can't even spell "imminent" correctly I doubt if you are in a position to have any real knowledge regarding any corporate merger plans.
The idea that Citigroup would buy U.S. Bank simply because some senior executives have McKinsey backgrounds confuses management pedigree with corporate control. Executive résumés do not drive M&A decisions in regulated banking; capital position, regulatory consent, strategic fit, and shareholder value do. In fact, even as press reports in late March 2026 speculated that Citi has generally explored the idea of acquiring a large U.S. regional bank, Citigroup itself publicly dismissed those reports as “baseless speculation” and emphasized that its current focus is on organic growth and completing its regulatory transformation—not on pursuing any specific takeover. More importantly, U.S. Bank is a well‑capitalized, independently governed institution with its own long‑standing strategy, board, and shareholder base; it is not a consultancy‑run franchise waiting to be “rolled up.” McKinsey alumni are common across Fortune 500 leadership teams, but that shared background has no bearing on whether two large banks merge—especially under today’s heightened regulatory scrutiny, where deals of this size would require years of approvals and an overwhelming strategic rationale that goes far beyond who once worked where.
Solid play by Citi, they will have to have permission to buy up USB, but in my opinion, the institutional shareholders, including MUFG have seen enough and there is nothing current USB leadership can do to correct their wholesale failures and missives? other than to sell the bent, dented and damaged ship that has been adrift without its own power for years now, wouldn't expect GK to have a seat at the table, nothing to show a prospective employer
Fraser was at McKinsey