Citigroup has resigned as trustee to the family trusts controlling the Bacardi rum empire. No explanation has been given and Bacardi declined to comment. The world's largest privately-held spirits group has been looking at a flotation for several years but has yet to persuade all the family members of the benefits. Bacardi suffered a 21% drop in net profits last year due to falling sales of "ready-to-drink" cocktails like Bacardi Breezers. The Sunday Times 09/10/05 (Business) page 3.3