Citi to take $300 million 'repositioning charge' in fourth quarter

(Reuters) - Citigroup Inc will take a $300 million (£197.8 million) "repositioning charge" in the fourth quarter, Chief Financial Officer John Gerspach said on Wednesday.

The charge will be taken to "resize infrastructure and capacity" throughout Citi's businesses, Gerspach said at the Goldman Sachs U.S. financial services conference.

Citi will also add $300-400 million in loan reserves from the third quarter for energy loans, based on the expectation that oil prices will remain low, he said.

Depressed oil prices have put several U.S. banks under pressure due to their exposure to loans to oil companies.

Citi is due to report fourth-quarter earnings on Jan. 15.

Gerspach declined to comment when asked about investment banking bonuses, saying Citi would "pay competitively."

(Reporting by Dan Freed and Richa Naidu; Editing by Ted Kerr)