Citigroup strips COO of responsibility after $136mn fine
Sep 16, 2024 · Citigroup is stripping chief operating officer Anand Selva of his responsibility for a key piece of its compliance work, after the bank was fined $136mn by regulators this summer for...
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Citi and Google Cloud Announce Strategic Agreement to Modernize Citi’s Technology Infrastructure and Drive Innovation
Government fines Citigroup $136 million for ... - Associated Press News
A pair of government regulators slapped Citigroup with a $135.6 million fine on Wednesday, saying the bank has made insufficient progress in resolving longstanding internal control and risk issues.
Citi Statement on Next Phase of Organizational Changes - Citigroup
NEW YORK - “Today we shared with our colleagues the next layer of changes across many of our businesses and functions as we continue to align Citi’s organizational structure with our new, simplified operating model. As we’ve acknowledged, the actions we’re taking to reorganize the firm involve some difficult, consequential decisions ...
Citigroup to cut 20,000 employees | CNN Business
Jan 12, 2024 · Citigroup will lay off 20,000 employees over the next two years, CFO Mark Mason said Friday. The reduction comes after the company reported a $1.8 billion net loss for the fourth quarter of 2023,...
Citi, Falling Behind Peers, Unveils ‘Uncomfortable’ Changes and …
Sep 13, 2023 · Citigroup unveiled a wide-ranging management shake-up on Wednesday, and its chief executive, Jane Fraser, admitted in unusually frank terms that the bank was headed in the wrong direction and...
Citi and Google Cloud Announce Strategic Agreement to Modernize Citi…
Oct 28, 2024 · Citi and Google Cloud announce a strategic agreement to modernize Citi's technology infrastructure and drive innovation with cloud and AI. Citi will migrate workloads and applications to Google Cloud's secure and scalable infrastructure and use Vertex AI platform for generative AI capabilities.
Citigroup to end sweeping overhaul this week after 5,000 layoffs
Mar 25, 2024 · Citigroup is in the last phase of a sweeping overhaul to simplify its structure and improve performance, the bank said, after shrinking its workforce by 5,000 employees since September.
Exclusive: Citi hit by new Fed rebuke, setbacks on consent orders
NEW YORK, Feb 12 (Reuters) - U.S. regulators have asked Citigroup (C.N) for urgent changes to the way it measures default risk of its trading partners and the bank’s own auditors have found a...
Citi to cut 20,000 jobs, posts $1.8 billion loss in 'disappointing ...
Jan 12, 2024 · Citigroup said it would cut 20,000 jobs over the next two years, acknowledging a "clearly disappointing" quarter marred by one-off charges that resulted in a $1.8 billion loss.