Citigroup plans to shed about $400 billion of assets (update5)

By Josh Fineman May 9 (Bloomberg) -- Citigroup Inc. Chief Executive Officer Vikram Pandit plans to get rid of about $400 billion of assets over the next three years as he starts to whittle away at the company built by Sanford ``Sandy' Weill.Citigroup could lose status as biggest US bank by assets MarketWatch$500 billion on the block - Citigroup CNNMoney.comForbes - The Associated Press - New York Times - Reuters