NEW YORK (Reuters) – Citigroup is uncertain how long it will be able to keep its operations in Ukraine running and is concerned about a cyber attack by Russia, Chief Executive Jane Fraser said in an interview with CNBC.
“I don’t think any of us know how long we will be able to keep going (in Ukraine),” Fraser said.
The threat of cyber attacks is “our primary concern”, Fraser said.
“”We are certainly on high alert and putting a lot of resources around making sure that we are protecting our institutions,” she added.
Fraser also said Citigroup and its clients were reducing their exposure to possible losses on Russian assets.
“There is a big unwind going across different industries,” she said. Investors and corporations are asking “where are we going to see a decoupling of the Russian capital markets, financial markets and broader economy”, she said.
(Reporting by Matt Scuffham and David Henry; Editing by Chizu Nomiyiama and Emelia Sithole-Matarise)