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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....
Bosses sell hundreds of millions of dollars in company shares this quarter in sign that markets may be peaking
...The collusion scandal is the latest in a series of high-profile misconduct cases in the sector, which a group of MPs branded a “wild west” in 2021....
...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....
...Thanks for reading — Patrick Temple-West Electric vehicles Tesla navigates slowing EV demand and a crowded field with an ‘affordable’ model Tesla’s share price jump this week highlighted how jumpy electric...
...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....
...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...
...“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....
...China’s trade ambition Friction with the west has prompted Beijing to build its own alternative system focused on developing nations, reports the FT in a Big Read....
...In the end, the job went to Raghavan, a man, about the same age as Fraser....
Also in today’s newsletter, one solar company thinks it has what it takes to go public — despite a down market for the sector
...Citigroup boss Jane Fraser wants to make the perennial underperformer more efficient....
...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....
Endorsement is boost for billionaire activist’s struggling campaign at entertainment giant
...Fraser’s restructuring aims to streamline operations and boost the bank’s returns, which have trailed rivals....
...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....
...Fraser is trying to rewrite that script....
Norway’s wealth fund and LGIM back resolution asking iPhone maker to outline risks associated with artificial intelligence
...At Citi, chief executive Jane Fraser has continued to reiterate the bank’s commitment to its Chinese operations....
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