Citigroup CEO Jane Fraser Says We Are No Longer The Financial Supermarket Of The Past, Getting Focused; Says Bank Is Improving Controls; We Recognize Places Where Progress Has Been Too Slow On Transformation
Portfolio Pulse from Benzinga Newsdesk
Citigroup CEO Jane Fraser announced that the bank is shifting away from its previous 'financial supermarket' model to a more focused approach. The bank is also working on improving its controls and acknowledges that progress on transformation has been slow in some areas.
June 18, 2024 | 1:07 pm
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Citigroup is shifting its business model to a more focused approach, improving controls, and addressing slow progress in transformation.
The shift in business model and focus on improving controls are likely to be seen positively by investors, as it suggests a more streamlined and efficient operation. Acknowledging slow progress in transformation shows transparency and a commitment to improvement.
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