Citigroup was fined by federal banking regulators on Wednesday Inc. C 0.97% Million 400 million and ordered the country’s third-largest bank to improve its risk-management systems, citing “significant ongoing shortcomings.” The consent order, approved by the board of New York Bank, blamed Citigroup for a reduction in “various areas of …
Read More »City CEO Michael Corbett to retire in February, Jane Fraser to become Megabank’s first female CEO
Michael Corbett, CEO of Citigroup, said he was retiring in February after leading the bank for eight years, and that Jane Fraser, the firm’s retail banking chief, would take care of him, making him the first female CEO of a large US bank. Corbett’s move eliminates the management overall that …
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