Reported 8 months ago
At Citigroup's Investor Day, CEO Jane Fraser highlighted the bank's strategic direction, particularly focusing on its services business while stressing the ongoing restructuring and streamlining efforts. Fraser's remarks signaling Citigroup's departure from being the financial supermarket of the past unsettled investors. The bank's goals for 2026 include reshaping and downsizing its operations, with an emphasis on its services for multinational companies, seen as a unique asset that sets Citigroup apart from other Wall Street banks. Financial updates revealed expectations of lower net interest income for the second quarter but a significant 50% increase in investment banking fees compared to the previous year.
Source: YAHOO