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NEW YORK: Citigroup will strip out a layer of management and cut jobs in a sweeping reorganisation that will give CEO Jane Fraser more direct control as she seeks to simplify the Wall Street giant and boost its stock. The heads of the bank's five divisions will report directly to the CEO, and the bank will
In effect, the leaders of Citi’s five interconnected businesses will now report directly to the CEO and be members of the executive management team.
Citigroup is preparing for a wave of job cuts as Chief Executive Officer Jane Fraser initiates the biggest restructuring of the Wall Street giant in two decades, part of her effort to reverse a years-long slump in the stock price.
Citi announced significant changes to its organizational model that will fully align its management structure with its business strategy and simplify the bank. The new, flatter structure elevates the leaders of Citi’s five businesses and eliminates management layers, which will speed up decision making, drive increased accountability and strengthen...
Citigroup CEO Jane Fraser announced a major management reorganization that will give her more direct oversight over its businesses.