#corbat

Michael Corbat will retire as CEO of Citigroup and will be replaced by Jane Fraser 2020

Citigroup announced Thursday that its CEO, Michael Corbat, is retiring effective February 2021. His departure will complete a 37-year career with the company.

60-year-old Corbat will be replaced by 53-year-old Jane Fraser, who is currently the company's President and CEO in the Consumer Banking division.

Fraser's appointment as CEO of Citigroup marks the first time a woman has been appointed…

Citi CEO's Corbat memo on a day off given coronavirus efforts 2020

Michael Corbat, CEO of Citi, rewards employees for their response to Covid-19 with an additional working day.

Banks have seen additional productivity in the work-from-home era, and some businesses are busier than ever.

In a company-wide memo, he told employees, "As important as it is to take care of our customers, we need to take care of ourselves," and provided a day off this Friday or…

Citigroup’s Corbat says ‘this is not a financial crisis’ during Trump meeting with Wall Street execs

Citigroup CEO Michael Corbat said Wednesday that the current turmoil caused by the coronavirus isn’t stemming from the financial system. 

“This is not a financial crisis,” Corbat said during a White House meeting. “The banks and the financial system are in strong shape and we are here to help.”

Leaders of the biggest U.S. banks were summonedto Washington by President Donald Trump to discuss…

Citigroup Earnings Climb 18 Percent in Quarter

The strong quarter was driven partly by cutting costs and improving credit quality — a formula that has helped buoy the results of other large banks.

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Cost-Cutting Helps Citigroup Beat Estimates

The bank swung to a profit in the first quarter, benefiting from lower expenses and strong investment banking results.

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Breakingviews: Citigroup to Benefit From Losing Its Most Profitable Unit

The bank’s deal to sell its subprime consumer finance unit OneMain gives it a shot of income, frees up capital and removes a distraction.

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Citigroup’s Consumer Banking Chief to Retire

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