Citigroup shifts focus for alternative profits

Citigroup predicts the profit in alternative investments is going to move from manufacturing to distribution.

The CEO of Citigroup's alternative investments division, Ahmed Fahour, believes management fees will come down and manufacturers will be looking at innovation to try to preserve margin.

As a result, the group has moved to an open architecture strategy and two-thirds of the investment products it sells come from outside the company.

Fahour said: 'Customers need a range of products and the