"Every one of us has to adopt a more commercial mindset: asking for the business, competing for the full wallet, and not settling for a secondary role or missed opportunity. We are not graded on effort. We are judged on our results. And I expect to see the last vestiges of old, bad habits fall away, and a more disciplined, more confident, winning Citi fully emerge in 2026."
"The bank has made clear it's sticking to a plan that Fraser established in early 2024 to slash up to 20,000 jobs over three years. The streamlining effort is part of the corporate overhaul the bank has dubbed the "Transformation" - a sweeping initiative to upgrade antiquated tech and maximize efficiencies. At the time of Fraser's original pledge, the bank projected a $2.5 billion cost savings from the cuts."
Jane Fraser expects employees to adopt a more commercial mindset: ask for business, compete for the full wallet, avoid secondary roles, and prioritize results over effort. She expects old, bad habits to disappear and a more disciplined, confident, winning Citi to fully emerge in 2026. The bank is executing a Transformation to modernize technology and increase efficiency, including plans to cut up to 20,000 jobs over three years and an estimated $2.5 billion in cost savings. Over 80% of Transformation is complete. Automation, AI, and process simplification will reshape roles, while the CFO indicated additional hiring in some areas.
Read at Business Insider
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