Leaders in Citi's technology unit and its "crown jewel" services unit announced a raft of changes as key leaders step down.

Managing directors in the wealth and technology units are leaving the firm and Citi is also axing people from a team that compiles data and analysis on the bank’s clients, Bloomberg reported.

Citigroup Inc. eliminated more jobs this week, just as executives were announcing new share buybacks and doubling down on Chief Executive Officer Jane Fraser’s commitment to expense reductions.

"2024 was a critical year and our results show our strategy is delivering as intended and driving stronger performance in our businesses," said Citi CEO Jane Fraser. "While we now expect our 2026 ROTCE to be between 10% and 11% in order to make additional ...

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

Citigroup is cutting more jobs this week after going through an overhaul last year, a spokesperson for the lender said on Thursday, as a part of the sweeping reorganization under Chief Executive Officer Jane Fraser to cut costs.

Among those innovations is Citi Payments Express, the bank’s “simplified banking platform.” The bank converted 4 million retail bank customers to the platform in 18 countries. The bank spent $11.8 billion on technology in 2024, with a focus on digital innovation, new product development, client experience and cybersecurity.

Davos: Minister of Finance H E Ali bin Ahmed Al Kuwari met with CEO of Citi Group Jane Fraser. This came as part of his participation in the 2025

Citigroup continues job cuts in wealth business and technology unit, following better-than-expected Q4 results and $20B stock buyback program.

Citi armed 30,000 developers with generative AI coding tools as part of an ongoing modernization push, CEO Jane Fraser said, during the bank’s Q4 2024 earnings call Wednesday.

Citigroup reported fourth-quarter results that exceeded expectations, sending shares higher in pre-market trading Wednesday.

The megabank reported achievements in several areas, but lowered its 2026 expectations for a profitability metric that investors have been closely watching.