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Search resuls for: "Sandy Weill"


2 mentions found


☆ Citigroup CEO Jane Fraser reorganizes businesses, cuts jobs as bank is mired in stock slump
  + stars: | 2023-09-13 | by ( Hugh Son | ) www.cnbc.com   time to read: +1 min
Citigroup CEO Jane Fraser announced a corporate reorganization Wednesday, saying the move would cut down management layers and accelerate decisions. Fraser said in a release that Citigroup would be divided into five main business lines that report directly to her. Fraser, closing in on her third full year atop Citigroup, is seeking to revitalize a firm mired in a persistent stock slump. While Citigroup is the third-biggest U.S. bank by assets after JPMorgan Chase and Bank of America , it has a far smaller domestic retail banking presence than its competitors. The corporate setup dates back two decades to when Sandy Weill ran Citigroup, according to Wells Fargo analyst Mike Mayo.
Persons: Jane Fraser, Fraser, hasn't, Sandy Weill, Wells, Mike Mayo Organizations: Citigroup, U.S, JPMorgan Chase, Bank of America Locations: New York, Wells Fargo
☆ Citigroup CEO Jane Fraser pushes biggest overhaul in almost two decades
  + stars: | 2023-09-13 | by ( Tatiana Bautzer | ) www.reuters.com   time to read: +3 min
Citigroup CEO Jane Fraser testifies during a U.S. House Financial Services Committee hearing titled “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks” on Capitol Hill in Washington, U.S., September 21, 2022. The bank is also planning to list its Mexican consumer unit, known as Banamex, after a sale process fell through. Scottish-born Fraser is the first woman to lead a Wall Street bank. She spoke in March about her life and career in a wide-ranging interview with Carlyle Group (CG.O) Co-Founder David Rubenstein. Reporting by Tatiana Bautzer; writing by Michelle Price; editing by Lananh Nguyen and Josie KaoOur Standards: The Thomson Reuters Trust Principles.
Persons: Jane Fraser, Elizabeth Frantz, Jane Fraser's, we've, Fraser, Michael Corbat's, Sandy Weill, David Rubenstein, Goldman Sachs, Smith Barney, Tatiana Bautzer, Michelle Price, Lananh Nguyen, Josie Kao Organizations: Citigroup, . House Financial, REUTERS, Citi, JPMorgan Chase &, Bank of America, Banks, Carlyle Group, Cambridge University, Harvard Business School, McKinsey, Thomson Locations: Washington , U.S, U.S, New York, Scottish, Mexico
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