Ida Liu, the head of Citi’s private bank, will exit this month. Andy Sieg, who runs the bank’s wealth business, said on Monday in a memo that Liu had informed him of her decis

Ida Liu, an 18-year veteran of the bank, did not detail her future plans. Citi eliminated her post and will instead have four regional private-banking chiefs.

The megabank is simplifying the management structure of its private bank. Regional leaders will now report directly to Andy Sieg, head of wealth.

Citigroup Inc. is revamping the management structure of its private bank following the resignation of Ida Liu, who’s led the unit for almost four years.

Last year, the wealth business saw departures of private bankers to Bank of America as well as a wave ... Christian Zeinler as head of strategy for Citi Wealth and head of business execution ...

The global head of Citigroup’s private banking arm and one of its highest-ranking female executives is leaving in a potential blow to chief executive Jane Fraser’s plan to grow its wealth division.

Berkshire took a new stake in Citigroup ( C 1.88%) in 2022 and the stock currently makes up 1.5% of Berkshire's portfolio. Citigroup has far and away been the worst-performing large U.S. bank stock since the Great Recession and many investors have ditched the stock out of frustration.

The lender rebuffed allegations that it is less welcoming to conservatives after the president blindsided CEO Brian Moynihan with a barb during a Q&A session at the World Economic Forum in Davos, Switzerland.

Bank of America said Thursday that it expected to earn between $14.5 billion and $14.6 billion of net interest income—on a fully taxable-equivalent basis—in the first quarter of 2025.

Following Trump's lead, organizations including Walmart, Lowe’s and Meta, have announced they would scale back their commitments to diversity, equity and inclusion programs.

JPMorgan Chase, Bank of America, Citi, Goldman Sachs, Morgan Stanley and BlackRock were all asked about how they plan to implement or have implemented hiring or supplier diversity goals.

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