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14 Moments That Basically Sum Up Your Citi Commercial Cards Experience | citi commercial cards

 

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Citi CEO Michael Corbat today appear that, afterwards 37 years at Citi, including the aftermost eight years as CEO, he affairs to retire from Citi and footfall bottomward from its Board of Directors in February of 2021. The Board of Directors called Jane Fraser, currently Citi’s President and CEO of All-around Chump Banking, to accomplish him as CEO in February, and she has been adopted to the Board of Directors, with account alpha immediately. Jane Fraser has been at Citi for 16 years and has been in her accepted roles back 2019.

Michael Corbat said, "I am acutely appreciative of what we accept able in the able eight years. We completed our transformation from the cyberbanking crisis and emerged a simpler, safer and stronger institution. Beyond our businesses, we fabricated investments in articles area we saw opportunities for advance and Citi has regained its abode as a baton in banking. We angled bottomward on our all-around network, authoritative it basal for our audience and acquired cogent allotment beyond our markets and cyberbanking franchises. In chump banking, we rationalized our brand and accepted the advance to digital, authoritative it a centerpiece of our branch-lite brand and we now bear best-in-class articles and adventures to our customers.

"Our cyberbanking achievement bigger steadily and decidedly during the eight years afore COVID, as we kept our charge to access our acknowledgment on and of basic to our shareholders. From 2012 to 2019, Citi’s net assets added from $7 billion to about $20 billion and our Acknowledgment on Tangible Common Disinterestedness added from 5% to over 12%, closing the gap with our peers. We went from abiding hardly any basic to abiding about $80 billion in basic to our shareholders over the aftermost six years.

"Through it all, we showed the appearance of our bodies and our close as we took administration roles in the action adjoin altitude change and for gender equity. Citi’s achievement through COVID-19 has apparent our backbone and resilience, and I am assured Citi will abide to be a admired accomplice to our audience and customers.

"Of course, there is consistently added to do and I accept the time is appropriate for my almsman to advance Citi through this abutting date of progress. We apperceive there are articles area we can still accretion share; we apperceive that the expectations of our barter and audience accumulate accretion and we accept to assignment harder to accumulate up. And as the world’s best all-around bank, assurance and acumen consistently accept to be a foundation of our institution. We accept launched cogent investments in our basement as allotment of our advance to accomplish deepening our accident and ascendancy ambiance a cardinal antecedence for the firm.

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"I accept formed with Jane for abounding years and am appreciative to accept her accomplish me. With her leadership, acquaintance and values, I apperceive she will accomplish an outstanding CEO," Mr. Corbat concluded.

John C. Dugan, Chair of the Board of Directors, said, "The Board acutely appreciates Mike’s abounding contributions to Citi and he will leave the close in a abundant stronger position than he begin it. He led with candor and has been committed not alone to the achievement of the firm, but additionally to the abundance and advance of our people. He has helped accomplish Citi a abode area they are appreciative to work.

"We accept Jane is the appropriate being to body on Mike’s almanac and booty Citi to the abutting level. She has abysmal acquaintance beyond our curve of business and regions and we are awful assured in her. Jane’s adeptness to anticipate strategically and additionally accomplish a business are a different aggregate that will serve our aggregation well," Mr. Dugan concluded.

Jane Fraser said, "I am accustomed by the Board’s accommodation and beholden to Mike for his administration and support. The way our aggregation has appear calm during this communicable shows what Citi is fabricated of. Our antithesis area is able and our charge to confined our audience and communities is alike stronger. I will do aggregate I can to accomplish all of our stakeholders appreciative of our close as we abide to body a bigger coffer and advance our returns. We will advance in our infrastructure, accident administration and controls to ensure that we accomplish in a safe and complete address and serve our audience and barter with excellence. Citi is an absurd academy with a appreciative history and a ablaze future. I am aflame to accompany with my colleagues in autograph the abutting chapter."

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Jane Fraser is currently the President of Citi and the Chief Executive Officer of All-around Chump Banking. Her all-around responsibilities accommodate all Chump businesses in 19 countries, including Retail Cyberbanking and Abundance Management, Acclaim Cards, Mortgages and the associated Operations and Technology.

Before this role, she was the Chief Executive Officer of Citi’s Latin American arena from 2015 to 2019. From 2013 to 2015, she was the Chief Executive Officer of the U.S. Chump and Commercial Cyberbanking and CitiMortgage. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Private Bank. Prior to that, Jane was the All-around Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. She abutting Citi in 2004 in the Accumulated and Advance Cyberbanking division. Afore abutting Citi, Jane was a Accomplice at McKinsey & Company. She started her career at Goldman Sachs in the Mergers & Acquisitions administration in London and again formed for Asesores Burs├ítiles in Madrid, Spain.

Jane Fraser is a affiliate of the Board of Dean’s Advisors at Harvard Business School, serves on Stanford University’s All-around Advisory Council and is a affiliate of the Council on Foreign Relations. Jane has an M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University. She is affiliated with two children.

Citi will name a new CEO of All-around Chump Cyberbanking in the advancing weeks.

CitiCiti, the arch all-around bank, has about 200 actor chump accounts and does business in added than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a ample ambit of cyberbanking articles and services, including chump cyberbanking and credit, accumulated and advance banking, balance brokerage, transaction services, and abundance management.

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Additional advice may be begin at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

View antecedent adaptation on businesswire.com: https://www.businesswire.com/news/home/20200910005585/en/

Contacts

Media: Jennifer Lowney (212) 793-3141Investors: Elizabeth Lynn (212) 559-2718Fixed Assets Investors: Thomas Rogers (212) 559-5091

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