Jane Fraser, the first woman to head a U.S. mega bank, tries to refresh Citigroup; Omer Ismail, the head of its Marcus unit, will head the retail giant’s new fintech startup.
Thasunda Brown Duckett is one of Wall Street’s most prominent Black executives; the central bank blamed Wednesday’s shutdown of its payments systems on a maintenance mistake.
The cause of the disruption is unknown, although the Treasury said it wasn’t a cyberattack; applications fell 11% after the average 30-year fixed-rate loan rose to 2.81%.
The sale, which raised $2.1 billion, is part of the bank’s plan to reduce its costs; the bank hopes managing stock ownership plans will deepen its reach with tomorrow’s Silicon Valley rich.
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