Citigroup expects annual revenue growth of no less than $6 billion in the next three years, with annual spending reduced by at least $500 million. Mark Mason, chief financial officer of Citigroup, said at the annual investor conference on Tuesday that this year will be a turning point for the group, with the aim of achieving the above revenue growth target by promoting cross-border wealth management services. CEO Jane Fraser pointed out that the group no longer hopes to become a global financial supermarket, but rather to focus on individual business categories, particularly assisting companies in transferring assets between different countries, which means that the bank will reduce its investment in consumer banking business. Citigroup executives acknowledge that the group needs to strengthen internal monitoring to meet regulatory requirements.