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Citigroup made history in 2020 when it named the head of its consumer banking division, Jane Fraser, as successor to then-CEO Michael Corbat. In doing so, Citigroup became the first bulge bracket U.S. bank to be led by a woman. And so far, Fraser is signaling her willingness to go big and reorganize: Citigroup announced plans to shutter its consumer banking operations in 13 markets and has reshuffled leadership since the executive officially assumed her role. One mess that is still frustrating investors: In mid-2020 loan operators at Citi accidentally wired roughly $900 million to lenders of makeup company Revlon. While some recipients returned the funds, Citi has been unable to recoup hundreds of millions of dollars in the ongoing saga.
Lists ranking Citigroup
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