Ida Liu, the head of Citi’s private bank, will exit this month. Andy Sieg, who runs the bank’s wealth business, said on Monday in a memo that Liu had informed him of her decis

Ida Liu, an 18-year veteran of the bank, did not detail her future plans. Citi eliminated her post and will instead have four regional private-banking chiefs.

The megabank is simplifying the management structure of its private bank. Regional leaders will now report directly to Andy Sieg, head of wealth.

Citigroup Inc. is revamping the management structure of its private bank following the resignation of Ida Liu, who’s led the unit for almost four years.

Last year, the wealth business saw departures of private bankers to Bank of America as well as a wave ... Christian Zeinler as head of strategy for Citi Wealth and head of business execution ...

Berkshire took a new stake in Citigroup ( C 1.88%) in 2022 and the stock currently makes up 1.5% of Berkshire's portfolio. Citigroup has far and away been the worst-performing large U.S. bank stock since the Great Recession and many investors have ditched the stock out of frustration.

The lender rebuffed allegations that it is less welcoming to conservatives after the president blindsided CEO Brian Moynihan with a barb during a Q&A session at the World Economic Forum in Davos, Switzerland.

In a report released today, Keith Horowitz from Citi maintained a Buy rating on Bank of America (BAC – Research Report). The company’s shares

Bank of America said Thursday that it expected to earn between $14.5 billion and $14.6 billion of net interest income—on a fully taxable-equivalent basis—in the first quarter of 2025.

The great unravelling of the net-zero stranglehold on financial and investment markets has begun. The latest evidence is the push by Coalition MPs and a New Zealand minister for Australia’s large banks to abandon an international net-zero pact.

De Verdelon is currently group head of LCH SwapClear and listed rates, having joined London Stock Exchange Group, LCH ’s owner, in 2017. She previously held sales and strategy roles as a managing director in Goldman Sachs’ securities division. She will report to Daniel Maguire, group head of LSEG ’s markets division and CEO of LCH Group.

Dynamic Advisor Solutions LLC reduced its stake in Raymond James (NYSE:RJF – Free Report) by 27.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,828 shares of the financial services provider’s stock after selling 688 shares during the period.