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.

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.

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.

Citigroup continues job cuts in wealth business and technology unit, following better-than-expected Q4 results and $20B stock buyback program.

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 's wealth management unit had a "turning point" in 2024 as wealth head Andy Sieg has focused the unit on investments and improving the client experience, according to Chief Executive Officer Jane Fraser.

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.

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.