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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's CEO, Jane Fraser, is leading the bank through a bold restructuring to simplify its operations and boost shareholder value
What's really happening with Jane Fraser's Citi reorg?
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...