Citigroup CEO announces management changes, ‘difficult’ decisions

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FILE PHOTO: A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange

NEW YORK (Reuters) – Citigroup CEO Jane Fraser announced the next layer of management changes in a sweeping reorganization, according to a memo to staff on Monday.

“The actions we’re taking to reorganize the firm involve some difficult, consequential decisions, but we believe they are the right steps to align our structure with our strategy,” Fraser said in a separate statement.

Specific leadership changes across businesses and functions will be communicated by executives on Monday and later posted on an internal site, the memo to employees said.

(Reporting by Tatiana Bautzer, editing by Lananh Nguyen and Chizu Nomiyama)

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