Citigroup underwent a major management overhaul, cutting management layers and restructuring into five business lines under CEO Jane Fraser's leadership in an effort to turn around the bank.
Despite the restructuring efforts, Citigroup faces doubts from regulators, shareholders, clients, and investors regarding the speed and effectiveness of the changes, indicating potential future challenges for CEO Jane Fraser.
Citigroup continues to struggle with compliance issues, recently facing fines for failing to address compliance, internal control, and risk management structures, raising concerns about the bank's regulatory compliance and risk management practices.
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