The company has long been criticized for its lagging financial performance and its complexity. CEO Jane Fraser is pushing through Citigroup's most recent transformation plan, but will she succeed where her predecessors have failed?

Over the past decade, the equities division at the megabank saw harassment allegations pile up, as well as alleged instances of in-office cocaine use, among other complaints.

The megabank, which is eliminating about 5,000 jobs in a first round of restructuring, said that it's paused its annual review of racial and gender pay gaps. Citi will conduct a 2023 review sometime later this year, a source said.

The award was the highest pro rata compensation for executives at the bank.

Wealth management is now one of five divisions in the firm's simplified organization.

The CEO's compensation package included $1.5 million in salary plus stock and cash incentives.

Helen Grace Caldwell told her employees about her side film hustle but neglected to add that her clients were helping her fund it.

Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.

The change comes over massive overhaul as the mega bank seeks to build divison under Sieg.