Jane Fraser, Citi's CEO, has been criticized for her strategic overhaul of the bank since she took the helm in March 2021. Despite the challenges and scrutiny, Fraser's efforts to restructure Citi, including exiting international consumer banking and implementing technology investments, have gained some competitive advantage. Analyst Ebrahim Poonawala highlights that her comprehensive strategy provides Citi with a fighting chance to succeed where past restructurings have faltered. Since Fraser’s leadership, Citi's stock has increased by approximately 22%, indicating a positive market reaction despite the ongoing challenges.
We consider Citi's turnaround as among the most complex in the corporate world, but Fraser had undertaken actions that gives Citi a fighting chance of becoming competitive.
Fraser's big moves at Citi include divesting nearly all of Citi's international consumer banking franchises, exiting non-core operations, and overhauling leadership.
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