Today we hear that Citigroup (C) has decided to split its consumer business into two. While not nearly as dramatic as the real break-up plan many, myself included, have discussed, it is a start. Citi will split the consumer business into two parts: consumer banking and global cards. The global card segment will include both U.S. and international credit card lending.

I think CEO Vik Pandit has the right idea here, but for Citigroup shareholders to really see full value realized for the company, they need to split off global wealth management, consumer banking, and corporate banking from each other.

Just my two cents...

Full Disclosure: No position in Citigroup at the time of writing