A huge shakeup is underway at Citi as 3 senior execs step down A major shakeup is underway at Citigroup as three top Citi execs are leaving the company, including CFO John Gerspach. (Business Insider)
Citigroup Succession No woman has ever been CEO of a Wall Street bank and, as Fortune's Claire Zillman recently reported, in April Citigroup CEO Michael Corbat did not seem to believe his successor would be female. Well, Citigroup just promoted its Latin America chief, Jane Fraser, to be its president and head of its consumer bank—Citi's number two executive role, and a stepping stone to Corbat's role once he vacates it. Wall Street Journal
Citi, ValueAct Capital Extend Information Sharing, Engagement Agreement Through 2021 (Reuters) NEW YORK (Reuters) – Citi Group (C.N) and hedge fund ValueAct Capital said on Thursday they would extend an existing information-sharing agreement for another two years through the end of 2021. The agreement allows ValueAct, one of Citigroup’s largest shareholders, to engage with bank executives and directors on strategy, governance and planning matters, the firms said in a joint announcement. Citi and ValueAct originally made the agreement in January after starting discussions in 2018 following fund investments in the bank