Citigroup offers retention bonuses to wealth management staff amid a key reorganization effort.

Citigroup is offering special retention bonuses to dozens of employees in its wealth management unit to curb staff departures. The bank has seen a significant exodus of senior bankers and is undergoing a reorganization led by CEO Jane Fraser to improve performance. New wealth boss Peter S. Sieg is implementing several initiatives to revamp the business, including hiring external managers and setting up an advisory board to enhance strategy and efficiency.

November 25, 2024
6 Articles