Citigroup, under CEO Jane Fraser, is closing its municipal bond and distressed-debt trading businesses in a bid to improve returns. This move marks a significant shift for the Wall Street giant, which was a major underwriter of state and local government debt. The decision to exit these businesses is part of Citigroup's broader effort to reshape the firm and pursue higher returns, reflecting a strategic overhaul under Fraser's leadership.
$C (+0.9% pre) Citigroup to close global distressed-debt business as part of CEO Jane Fraserβs overhaul - CNBC https://t.co/nkYfTX6Tuj
Citigroup to shut global distressed-debt business - CNBC https://t.co/ROEZjFJ8CE https://t.co/qD90J5k3Y0
Citigroup Is exiting distressed debt trading https://t.co/RN0RutVJUp via @business
LITTLE CITI : Citigroup CEO Jane Fraser is killing another Wall Street business after shutting the muni desk last week. Quite the rush to break this for .com and broadcast π https://t.co/gKg26aiYUJ
*CITIGROUP IS SAID TO EXIT DISTRESSED-DEBT TRADING BUSINESS it's time this C-grade bank is renamed to Villagegroup
NEW: Citigroup has decided to exit the distressed-debt trading business in the latest retrenchment in its effort to reshape the firm in pursuit of higher returns https://t.co/tYwh6OXX6r
Citigroup $C to exit corporate distressed trading....
Citigroup to close global distressed-debt business as part of CEO Jane Fraser's overhaul https://t.co/ScNvu19Jgs
Citigroup to close global distressed-debt business as part of CEO's overhaul @CNBC https://t.co/mJCML6pZCo
Citigroup has decided to exit the distressed-debt trading business in the latest retrenchment in its effort to reshape the firm in pursuit of higher returns https://t.co/bQVfH051LT
CITIGROUP IS SAID TO EXIT DISTRESSED-DEBT TRADING BUSINESS $C
Citigroup was for decades a top underwriter of state and local government debt, making it a major financier of roads, bridges, and airports across the US. Now it wants out of that business, dismantling yet another part of an empire amassed in the 1990s. https://t.co/J2Fh8PsfCC
Citigroup will shutter its municipal business, one of the most dramatic moves yet by Chief Executive Officer Jane Fraser as she seeks to squeeze better returns out of the Wall Street giant https://t.co/rgNq4ngX50
$C Citigroup is closing its municipal bond business
Citigroup will shutter its municipal business, one of the most dramatic moves yet by Chief Executive Officer Jane Fraser as she seeks to squeeze better returns out of the Wall Street giant. https://t.co/KljlxL3P4b
#Citi shuts down #muni biz $C https://t.co/24vRmChr2I
NEW: Citigroup will shutter its municipal business, one of the most dramatic moves yet by CEO Jane Fraser as she seeks to squeeze better returns out of the Wall Street giant https://t.co/Q3NJNyplcB