Hints and tips:
...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....
...Fraser lived in Latin America for five years when she ran Citi’s business there. Additional reporting by Joshua Franklin and Arash Massoudi...
...Citigroup lifted chief executive Jane Fraser’s pay by 6 per cent in 2023 to $26mn for her work, despite the bank’s profits falling almost 40 per cent amid a reorganisation....
...The changes Fraser outlined last year are resulting in at least 20,000 job cuts at Citi, the third-largest US bank by assets....
...Fraser said Raghavan would start at Citi in the summer....
...“Vis is a proven leader and his appointment is another example of our ability to attract the best talent to our firm,” Citi chief executive Jane Fraser said in a memo to staff on Monday....
...In the end, the job went to Raghavan, a man, about the same age as Fraser....
...Hammerson has been working to repurpose spaces formerly occupied by traditional “anchor tenants” like Debenhams or House of Fraser by breaking up the large units and leasing them to multiple tenants....
...Joshua Franklin I think there are real questions out there. If Jane Fraser can’t fix Citigroup now, is Citi fixable in its current form?...
...Fraser called the restructuring the “most consequential changes” she has made to the management of the bank....
...Fraser is trying to rewrite that script....
...Overall, Citi’s chief executive Jane Fraser told analysts that she expected inflation to continue to fall and the economic outlook to remain positive....
...The FT’s US banking correspondent Stephen Gandel and US banking editor Joshua Franklin discuss whether Fraser can turn the bank around, and if not, what happens to Citi....
...Dimon, along with David Solomon of Goldman Sachs, Jane Fraser of Citigroup, and James Gorman, the outgoing boss of Morgan Stanley, will be among eight CEOs answering questions from senators in an annual...
...Citigroup has unveiled its biggest reorganisation in almost 15 years in an effort by chief executive Jane Fraser to simplify the bank, but also warned that the changes will probably result in significant...
...Bank of America’s Brian Moynihan sold $1.9mn before becoming chief executive but none since; Citi chief executive Jane Fraser has also not sold since taking the top job....
...DD’s Arash Massoudi and the FT’s Joshua Franklin reported earlier this week that Mark Sorrell, who co-leads M&A and is the son of advertising executive Martin Sorrell, and Gonzalo Garcia, co-head of European...
...And Jane Fraser is no exception. She has tried to trim back the bits that are not profitable....
...“As we move through the second half of the year, we will be in a position to focus on the third leg of bringing down our expense base through a leaner organisational model,” Citi chief executive Jane Fraser...
...Citi chief executive Jane Fraser said “the long-awaited rebound in investment banking has yet to materialise, making for a disappointing quarter”....
...capital buffer, these results still demonstrate Citi’s financial resilience through all economic environments, including the severely adverse scenario envisioned in the Federal Reserve’s stress test,” Jane Fraser...
...SBB has come under attack from short seller Fraser Perring’s Viceroy Research, which last year described the company as a “debt-fuelled roll-up of rent-controlled assets”....
...During the restructuring, Fraser has warned Citi would continue to lag behind Wall Street rivals in the coming years....
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