Citi was reorganized into five divisions that report directly to CEO Jane Fraser. Management layers were cut from 13 to eight as part of the overhaul. Citi recorded its highest quarterly revenue in a decade in April, with all five divisions posting gains. Return on tangible common equity reached 13.1% in the first quarter, the highest since 2021. Citi stock rose about 80% since Fraser became CEO, and her turnaround earned her the top spot on Fortune’s Most Powerful Women list. Evidence for causality between de-layering and earnings is uncertain, and research on flatter versus taller organizations is mixed.
#corporate-restructuring #banking-turnaround #organizational-management #leadership #performance-metrics
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]