Citi (C) is considering a structure overall that would split its Institutional Clients Group into three separate business segments, according to a report from the Financial Times. The proposed move would split the Institutional Clients Group into investment and corporate baking, global markets, and transaction services. Yahoo Finance Senior Reporter David Hollerith explains that each division would report to Citi CEO Jane Fraser, who would oversee the day-to-day operations of each division. Hollerith explains the move by stating, "Fraser is part of a long list of Citi CEOs, going back to 2000, who have been trying to reshape Citi based on what they think the bank's success should look like."
Citi considers splitting largest division: Report
08/21/2023 23:05
Citi (C) is considering a structure overall that would split its Institutional Clients Group into three separate business segments, according to a report from the Financial Times. The proposed move would split the Institutional Clients Group into investment and corporate baking, global markets, and transaction services. Yahoo Finance Senior Reporter David Hollerith explains that each division would report to Citi CEO Jane Fraser, who would oversee the day-to-day operations of each division. Hollerith explains the move by stating, "Fraser is part of a long list of Citi CEOs, going back to 2000, who have been trying to reshape Citi based on what they think the bank's success should look like."
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