Citigroup could not be reached for comment by Reuters.
The deals would be similar to what Citigroup arranged when it combined its Smith Barney unit with Morgan Stanley's wealth-management unit, giving Morgan Stanley 51 per cent control of the joint venture, the newspaper said.
Citigroup is looking to strike those types of partnerships with non-core assets like CitiFinancial, CitiMortgage, Primerica, Japanese brokerage Nikko Cordial and Citi's private-label credit card business, the paper said.
Citigroup and the United States reached an agreement last week in which the government will substantially raise its stake in the bank.
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