Ida Liu, the head of Citi’s private bank, will exit this month. Andy Sieg, who runs the bank’s wealth business, said on Monday in a memo that Liu had informed him of her decis

Leaders in Citi's technology unit and its "crown jewel" services unit announced a raft of changes as key leaders step down.

Managing directors in the wealth and technology units are leaving the firm and Citi is also axing people from a team that compiles data and analysis on the bank’s clients, Bloomberg reported.

Citigroup Inc. eliminated more jobs this week, just as executives were announcing new share buybacks and doubling down on Chief Executive Officer Jane Fraser’s commitment to expense reductions.

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

Citigroup is cutting more jobs this week after going through an overhaul last year, a spokesperson for the lender said on Thursday, as a part of the sweeping reorganization under Chief Executive Officer Jane Fraser to cut costs.

Among those innovations is Citi Payments Express, the bank’s “simplified banking platform.” The bank converted 4 million retail bank customers to the platform in 18 countries. The bank spent $11.8 billion on technology in 2024, with a focus on digital innovation, new product development, client experience and cybersecurity.

Citi armed 30,000 developers with generative AI coding tools as part of an ongoing modernization push, CEO Jane Fraser said, during the bank’s Q4 2024 earnings call Wednesday.

Citigroup reported fourth-quarter results that exceeded expectations, sending shares higher in pre-market trading Wednesday.

The megabank reported achievements in several areas, but lowered its 2026 expectations for a profitability metric that investors have been closely watching.

Citigroup Inc. eliminated more jobs this week, just as executives were announcing new share buybacks and doubling down on Chief Executive Officer Jane Fraser’s commitment to expense reductions.

Citigroup beat estimates for fourth-quarter profit, fueled by strength in trading and dealmaking, and announced a $20 billion buyback program as it cut a closely watched return target. Shares of the third-largest U.