NEW YORK (AP) - After yesterday's surprise exit by Citigroup CEO Vikram Pandit, some analysts suggest the nation's third-largest bank could shrink further.

Under Pandit's leadership, Citigroup shed businesses and jobs, with staffing falling from 375,000 nearly five years ago to 262,000.

Gerard Cassidy, a banking analyst with RBC Capital Markets, expects that trend to continue under new CEO Michael Corbat -- saying banks have to "shrink to make big money." Cassidy and others also point to Citi Chairman Michael O'Neill, who is thought to be behind Pandit's departure and who was a big cost-cutter when he was CEO of Bank of Hawaii Corp.

Some analysts also expect the bank's focus to change -- moving away from Wall Street trading and so-called investment banking and toward commercial banking, including lending to companies and consumers.