Citigroup reboots

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4 • 350 Ratings

🗓️ 15 November 2023

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In its early days Citigroup styled itself as a “financial supermarket”, a one-stop shop for all kinds of banking services around the world. But that plan has backfired in recent years. Stepping up to the challenge of repairing the bank is chief executive Jane Fraser, who announced her restructuring plan in September. The FT’s US banking correspondent Stephen Gandel and US banking editor Joshua Franklin discuss whether Fraser can turn the bank around, and if not, what happens to Citi.

- - - - - - - - - - - - - - - - - - - - - - - - - -

For further reading:

‘Get off the train’: Citi’s Jane Fraser sends tough message on big overhaul

Jane Fraser: the woman trying to turn Citi around

Citi: Fraser the Razor needs sharper edge in her battle with The Blob

- - - - - - - - - - - - - - - - - - - - - - - - - -

On X, follow Stephen Gandel, (@stephengandel), Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0	Am I missing anything? Is this the right decision?
0:02.0	Can I show this data?
0:04.0	Am I too late?
0:05.0	Find clarity in your investment decision-making.
0:08.0	Manage your portfolio for sustainable growth
0:11.0	and regulatory alignment
0:12.0	with the ultimate blend of powerful AI and
0:14.6	industry expertise.
0:16.5	Reduce risk, meet your sustainability goals and push the boundaries of possibilities based on
0:21.1	facts, not opinions.
0:23.0	Clarity AI scaling human decisions through tech.
0:26.6	Visit clarity.
0:28.0	AI and take action today.
0:30.2	It's September of this year, and Citigroup is hosting a town hall event for their 240,000 employees around the world.
0:39.0	And the bank CEO, Jane Frazier, has a message to share.
0:44.0	I'm counting on everyone in the firm.
0:48.0	Just days earlier, Citigroup had released a plan to restructure the bank.
0:52.0	It was the biggest reorganization in 15 years.
0:57.4	And this was Frazier's first chance to talk to the whole company about it.
1:01.1	Focus on our priorities.
1:04.0	We, with our clients, and help change the way we run the bank.
1:10.0	Get on board. What you're hearing is a clip from that town hall that was shared with the F.T.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Topher Forhecz, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Topher Forhecz and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.