Citi Considers Plan To Split Institutional Clients Group In Overhaul: Report

The plan is likely to split the Institutional Clients Group primarily into three segments: global markets, investment, and corporate banking and transaction services, as said by the FT report.

The CEO of Citigroup, Jane Fraser, has considered a plan to disperse the bank’s largest division, as per the reports of Financial Times on Monday.

The plan is likely to split the Institutional Clients Group primarily into three segments: global markets, investment, and corporate banking and transaction services, as said by the FT report.

The current leads will apparently run the new units, who will then be directly reporting to Fraser, as the newspaper further added.

This decision comes as Paco Ybarra, who is the divisional CEO, gets to quit in the first half of 2024, as per an internal memo that was witnessed by Reuters. Citigroup, however, has not immediately responded to Reuters’ request for comment.

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