Jane Fraser’s ruthless remake of Citigroup
Financial Times 2026-07-13 04:00:05
Context: Citigroup, under the leadership of Jane Fraser, has been undergoing a significant transformation, involving the sale of assets, job cuts, and new hires, as part of a broader effort to revitalize the bank's fortunes. This overhaul has included cultivating a closer relationship with the Trump administration. The changes are aimed at propelling Citigroup back to its former stature.
Key Facts
- Citigroup, under Jane Fraser's leadership, has been selling assets, a strategic move aimed at streamlining operations and bolstering financial health, as part of her efforts to revamp the bank.
- The bank has made controversial new hires as part of its restructuring efforts, signaling a shift in its approach to talent acquisition and management under Fraser's guidance.
- Fraser's strategy has also involved cutting jobs, a tough decision that reflects the bank's efforts to reduce costs and improve efficiency in a highly competitive financial services landscape.