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Pricing strategy of a product12/5/2023 ![]() Today’s announcement is the next logical step in Citi’s work to implement the plan it presented at its 2022 Investor Day and deliver its medium-term targets. Over the past three years, Citi has implemented a strategy to be the preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market. David Livingstone will lead this group and become the firm’s Chief Client Officer. Banking and International will share a common management team, creating greater connectivity across Citi for clients under a leaner structure.Ī newly-created Client organization is now responsible for strengthening client engagement and experience across the bank’s global network and businesses. The scope of Citi’s geographic management will narrow to local-market client coverage and delivery, and legal entity management. Leadership of the firm’s geographies outside of North America is now consolidated under Ernesto Torres Cantú, Head of International. These five business leaders are:Īndy Sieg, Wealth (beginning September 27) This will also give our investors greater transparency into our core businesses. This will allow them to have greater influence on Citi’s strategy and execution, while enhancing accountability. The leaders of each of Citi’s five interconnected businesses will now report directly to the CEO and be members of the Executive Management Team. “These changes eliminate unnecessary complexity across the bank, increase accountability for delivering excellent client service and strengthen our ability to benefit from the natural linkages that exist amongst our businesses, all with an eye toward delivering on our medium-term targets and our Transformation.” ![]() “I am determined that our bank will deliver to our full potential, and we’re making bold decisions to meet our commitments to all our stakeholders,” said Citi CEO Jane Fraser. Simplifying the organization will also advance the execution of Citi’s Transformation, the firm’s top priority. The new, flatter structure elevates the leaders of Citi’s five businesses and eliminates management layers, which will speed up decision making, drive increased accountability and strengthen the focus on clients. ![]() NEW YORK-( BUSINESS WIRE)-Citi today announced significant changes to its organizational model that will fully align its management structure with its business strategy and simplify the bank.
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