Ida Liu, the head of Citi’s private bank, will exit this month. Andy Sieg, who runs the bank’s wealth business, said on Monday in a memo that Liu had informed him of her decis

Ida Liu, an 18-year veteran of the bank, did not detail her future plans. Citi eliminated her post and will instead have four regional private-banking chiefs.

The megabank is simplifying the management structure of its private bank. Regional leaders will now report directly to Andy Sieg, head of wealth.

Citigroup Inc. is revamping the management structure of its private bank following the resignation of Ida Liu, who’s led the unit for almost four years.

Berkshire took a new stake in Citigroup ( C 1.88%) in 2022 and the stock currently makes up 1.5% of Berkshire's portfolio. Citigroup has far and away been the worst-performing large U.S. bank stock since the Great Recession and many investors have ditched the stock out of frustration.

The lender rebuffed allegations that it is less welcoming to conservatives after the president blindsided CEO Brian Moynihan with a barb during a Q&A session at the World Economic Forum in Davos, Switzerland.

In the latest shakeup, four regional heads serving the firm's highest-wealth clients will report directly to Citigroup's wealth chief Andy Sieg.

The global head of Citigroup’s private banking arm and one of its highest-ranking female executives is leaving in a potential blow to chief executive Jane Fraser’s plan to grow its wealth division.

JPMorgan Chase, Citi, Bank of America, U.S. Bank and Wells Fargo postpone payments Gov. Gavin Newsom, Wells Fargo's Charles Scharf, U.S. Bank's Andrew Cecere, Bank of America's Brian Moynihan ...

However, analysts have cut the private bank's earnings estimate, even as it delivered a strong Q3 performance in a tough macroeconomic environment.

Fortune has now put out a list of the "World's Most Admired Companies" for 27 years. To compile the list, it started with a group of 1,500 candidates consisting of the nation's 1,000 largest companies ranked by revenue as well as non-U.S. firms in its Global 500 database with revenue of at least $10 billion.

US money center bank's perp propels systemically important firms' January issuance to near-$49bn monthly record