CEO Jane Fraser on Citi's Stock, Turnaround Plan, and Balance Sheet

At Barron's

Business

4.7 • 17 Ratings

🗓️ 30 November 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Fraser talks about how the bank aims to catch up with—and perhaps surpass—its rivals.

Transcript

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0:00.0	Hello everyone and welcome to At Bairns.
0:04.3	I'm Andy Surwer and welcome to our guest, Jane Frazier,
0:07.7	CEO of City.
0:09.1	Jane, nice to see you.
0:10.0	Thanks so much for joining us.
0:11.0	Oh, thank you for joining us in our head office here in New York.
0:14.2	It's lovely.
0:15.5	It is.
0:16.3	It's a wonderful day here.
0:19.0	I want to ask you about an announcement that you put out to your bank recently.
0:24.9	It was an update to a significant and multi-part restructuring that the bank is going through right now.
0:31.1	There were reports that you're looking to reduce the head count by 10%.
0:35.4	And I'm wondering if that's accurate.
0:37.4	Well, let me put this in context.
0:40.1	We're on a deliberate path that started when we set the vision
0:43.7	and the strategy for City.
0:45.9	And we've really refreshed the strategy for the whole firm.
0:50.4	We've been executing against that.
0:52.7	And the next logical step that we referred to at our Investor Day
0:56.0	will be simplifying the organisation in line with the bank that we now are.
1:02.0	So earlier on this year we completed all of our divestures in our consumer franchises in Asia
1:09.0	and that enabled us to enact the next step in the journey
	...

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