Where Citigroup’s Going, They Don’t Need Roads


Bankers have long assumed that “people who like online banking have no money, and people with money don’t like online banking,” said Seamus McMahon, a former regional president for HSBC Holdings Plc’s U.S. banking unit. Now “there is a group of people who were in their 20s and are now in their 30s and actually have some money.”

Wait: They do? Bankers say that? All this time we thought we loved online banking because of how convenient it was, like it makes it super-easy to move $10 from your savings to your checking account so that your rent check doesn’t bounce. We had no idea we actually liked it because we were poor.

Citi Said to Eye ‘Bank of the Future’ With Ex-Travelocity Chief [Bloomberg]