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.

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.

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 ...

Fortune has now put out a list of the "World's Most Admired Companies" for 27 years. To compile the list, it started with a group of 1,500 candidates consisting of the nation's 1,000 largest companies ranked by revenue as well as non-U.S. firms in its Global 500 database with revenue of at least $10 billion.

US money center bank's perp propels systemically important firms' January issuance to near-$49bn monthly record

The value of a Wall Street bonus at the time of the award often ends up being far different than what bankers collect several years on when it vests.

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New York charities are always searching for the next generation of Wall Street leaders to support them. For Dream, which runs charter schools in the Bronx and East Harlem, the place to look is obvious: the fast-growing field of private credit,