Citigroup (C) CEO Jane Fraser told investors Tuesday that an empire her bank amassed in the 1990s is no more. “We are no longer the financial supermarket of the past,” Fraser said during an event in New York City. “Instead, our vision is focused.” Citigroup is paring back its ambitions, shedding businesses and cutting back […]
Tag: Fraser
Citigroup CEO Jane Fraser gets pay bump to $26 million after a 38% drop in profits
Citigroup CEO Jane Fraser got a 6% pay bump for her performance in 2023, a year the bank’s profits dropped 38% and Fraser began a dramatic restructuring that will result in an estimated 20,000 job cuts. The board awarded her total compensation of $26 million, Citigroup (C) said in a Tuesday regulatory filing. The amount […]
Warren Buffett tells Citigroup CEO Fraser to keep going with overhaul -source
By Isla Binnie and Lananh Nguyen NEW YORK (Reuters) – Over a recent lunch with Warren Buffett, Citigroup CEO Jane Fraser outlined her latest round of reorganization efforts to simplify the bank. He told her to keep going. Fraser recounted the meal with the billionaire investor on a conference call with managing directors on Thursday, […]
Citigroup lays off more bosses as CEO Fraser addresses managing directors -sources
By Tatiana Bautzer NEW YORK (Reuters) -Citigroup CEO Jane Fraser held a conference call on Thursday with managing directors to discuss the bank’s sweeping overhaul, according to two sources familiar with the situation, as it eliminated more leadership roles this week. In separate conversations, managers in markets, risk and investment banking were informed they were […]
Citigroup lays off more bosses as CEO Fraser addresses managing directors -sources
By Tatiana Bautzer NEW YORK, Jan 18 (Reuters) – Citigroup CEO Jane Fraser held a conference call on Thursday with managing directors to discuss the bank’s sweeping overhaul, according to two sources familiar with the situation, as it eliminated more leadership roles this week. In separate conversations, managers in markets, risk and investment banking were […]