Citigroup’s stock rises as it reorganizes into a ‘streamlined geographic structure’

Citigroup Inc.’s stock was up 0.8% in premarket trading on Wednesday after the megabank said it would reorganize into a flatter structure with leads of its...

Citigroup Inc.’s C, +2.69% stock was up 0.8% in premarket trading on Wednesday after the megabank said it would reorganize into a flatter structure with leads of its five major business units reporting directly to Chief Executive Jane Fraser.

The bank did not disclose any headcount reduction figures but said it’s “committed to retaining top talent and supporting employees who are leaving the company.” Fraser said the changes will eliminate unnecessary complexity and “increase accountability for delivering excellent client service.” The leaders include Shahmir Khaliq , Andrew Morton , Peter Babej , Andy Sieg and Gonzalo Luchetti .

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MarketWatch /  🏆 3. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Berkshire Hathaway Inc. Cl B stock rises Monday, still underperforms marketShares of Berkshire Hathaway Inc. Cl B inched 0.65% higher to $365.52 Monday, on what proved to be an all-around favorable trading session for the stock...
Read more »

Alphabet Inc. Cl A stock rises Monday, still underperforms marketShares of Alphabet Inc. Cl A inched 0.40% higher to $136.92 Monday, on what proved to be an all-around great trading session for the stock market, with the...
Read more »

Apple Inc. stock rises Monday, still underperforms marketShares of Apple Inc. inched 0.66% higher to $179.36 Monday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ...
Read more »

Netflix Inc. stock rises Monday, still underperforms marketShares of Netflix Inc. inched 0.58% higher to $445.36 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P...
Read more »

Berkshire Hathaway Inc. Cl B stock rises Tuesday, outperforms marketShares of Berkshire Hathaway Inc. Cl B inched 0.62% higher to $367.78 Tuesday, on what proved to be an all-around dismal trading session for the stock...
Read more »