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...Fraser told investors last month that the wealth management business “isn’t where it needs to be”....
...The newly separated units would be run by their current heads, who would report directly to Fraser, handing her greater day-to-day control....
...The changes Fraser outlined last year are resulting in at least 20,000 job cuts at Citi, the third-largest US bank by assets....
...“With the organisational simplification behind us and a good quarter under our belt, we have started this critical year on the right foot,” said Citi’s chief executive Jane Fraser....
...Fraser said Raghavan would start at Citi in the summer....
...It’s true that Fraser really does seem to be willing to make some dramatic moves....
...Fraser jumped to Citi in 2004....
...In today’s newsletter: Jane Fraser asks staff to lean in The royal rug maker under scrutiny The Nomura banker stuck in China Last call aboard the Jane Fraser train Speaking to the bank’s 240,000 employees...
...Nor will I enter into how biases of the two sides might play in here, except to note that (a) the journal that published the Green and Hand paper is published by the Fraser Institute, a Canadian think-tank...
...Ballast for the theory comes from a National Bureau of Economic Research paper....
...In the end, the job went to Raghavan, a man, about the same age as Fraser....
...Citigroup boss Jane Fraser wants to make the perennial underperformer more efficient....
...Mass market purveyors, such as JD Sports and Fraser Group’s Sports Direct, cater to a broader audience — like Nike, whose shoes they sell, these are as much about streetwear as track or gym wear....
...Fraser called the restructuring the “most consequential changes” she has made to the management of the bank....
...Crunch time is fast approaching for Jane Fraser. Since taking the helm at Citigroup in March 2021, the 56-year-old has cut jobs and ditched retail banking operations in 14 overseas markets....
...Fraser’s restructuring aims to streamline operations and boost the bank’s returns, which have trailed rivals....
...In today’s newsletter: Jane Fraser’s bold hire at Citigroup Private credits hunt for yield Sequoia’s clean-up job Citi bets on one of JPMorgan’s top bankers Investment bankers at JPMorgan Chase sometimes...
...For further reading: ‘Get off the train’: Citi’s Jane Fraser sends tough message on big overhaul Jane Fraser: the woman trying to turn Citi around Citi: Fraser the Razor needs sharper edge in her battle...
...Citi staffers say they have been given very little information on the process, beyond a town-hall meeting Fraser led soon after announcing the restructuring....
...As a paper published a year ago noted (Alphaville’s emphasis below): We use recent exchange-related developments to identify option trades that originate from retail investors, and find that more than 75%...
...Fraser is trying to rewrite that script....
...At Citi, chief executive Jane Fraser has continued to reiterate the bank’s commitment to its Chinese operations....
...The clock is also ticking with investors who feel that Fraser should move more decisively....
...Last week, Fraser said “cracks” were emerging in the finances of many Americans....
...But as Forbes, Du and Luzzetti argue: “the analysis in this paper should give central banks more confidence to unwind asset purchases in the future”....
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