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 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.

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.

He also met H E Muhammad Aurangzeb Minister of Finance and Revenue of the Islamic Republic of Pakistan and David Schwimmer CEO of London Stock Exchange Group (LSEG). On the sidelines of the World Economic Forum, Minister Al Kuwari participated in a session titled Navigating the Fiscal Squeeze.

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

CEO Jane Fraser said, speaking during the bank’s Q4 2024 earnings call Wednesday. The bank spent $11.8 billion on technology in 2024, investing in digital innovation, product development, client experience and cybersecurity, CFO Mark Mason said. Citi ...

JPMorgan Chase, Citi, Bank of America, U.S. Bank and Wells Fargo postpone payments for damaged or destroyed homes.

Industry veteran Okan Pekin has resigned as Citi’s global head of securities services. It is unclear why he decided to leave but industry sources suggest he may be aiming to pursue other opportunities.