Citigroup’s incoming CEO, Jane Fraser, created a new global operating team aimed at improving accountability among its top executives, as the firm continues to address a litany of concerns raised by regulators last year.
The bank considered terminating the relationship with professional golfer Justin Thomas, but instead decided to use his platform to increase awareness of discrimination against the LGBTQ community, Chief Marketing Officer Carla Hassan said Monday in a blog post.
Citigroup, one of the few companies to offer a frank assessment of the difference in wages it pays to men and women, has made gradual progress toward narrowing that gap.
Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity.
The new global wealth division, which is being formed by combining the firm’s private bank with a unit that serves substantially less wealthy households, will be led by Citi veteran Jim O’Donnell.
In a memo to staff on Tuesday, Citigroup announced a new head of U.S. consumer banking and said that two of its other high-ranking bankers would essentially switch roles.
The actions follow earlier announcements from Marriott International, Blue Cross Blue Shield and Commerce Bancshares, which said they are suspending financial support for all lawmakers who voted against certifying Joe Biden's election as president.
