Citigroup (NYSE:C) chief executive officer Michael Corbat is refining the company's global strategy while asking for patience as the company continues to wrestle with its large portfolio of bad assets.

The man who became Citi's CEO in October, following the ouster of Vikram Pandit, said Tuesday that despite recent improvements in U.S. real estate prices, the company is not going to be completing the sale of its pile of bad mortgages anytime soon.

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