Citigroup

Machine learning and automation could be pivotal in helping consumers and small businesses outside the mainstream access credit and other basic banking services, several panelists said at the Financial Technology Association's inaugural Fintech Summit.

Even though there has been some progress over the last eight years, men continue to hold many more board seats and jobs on executive teams than women, according to a recent report from DBRS Morningstar.

Speakers at American Banker's Most Powerful Women in Banking gala acknowledged that many women have made it to high positions, but the number of female CEOs is still tiny.

When Peetz joined Citi in 2020, she was returning to work after three and a half years of retirement from a career that included leadership positions at Bank of New York Mellon, where she led the financial markets and treasury services group, and at JPMorgan Chase, where she had a variety of commercial lending, sales, and management positions.

Over the past year, Jane Fraser, Citi's first female CEO in the firm's history, completed a strategy refresh at the world's most global bank. Despite an implausibly volatile geopolitical environment, she steered Citi to robust first quarter 2022 earnings—returning $4 billion to shareholders, while commanding 200,000 employees globally, and serving millions of consumers and businesses across 95 countries.

Maria Hackley, managing director and global co-head of industrials, banking, capital markets and advisory at Citi, understands how crucial it is for bankers to create strong, original content to distinguish themselves during client presentations.

Ida Liu became head of Citi's North American private bank in 2019 and then went on to beat her projections by 12% in 2020 despite the pandemic. That helped her get a promotion last year to global head, running 50 offices across the globe and overseeing more than $500 billion in client business.

For much of last year, Titi Cole wore multiple hats. She was head of operations and fraud prevention for Citi's consumer bank, where she launched new fraud-detection capabilities, strengthened risk controls with enhanced governance oversight for issue and third-party management, and invested in controls automation and digital monitoring.

TD Bank, the U.S. unit of the Canadian bank, has hired Christopher Fred as its new head of U.S. credit cards and unsecured lending. The bank's retail partners include Target and Nordstrom.

Corporations are navigating shifting geopolitics, and M&A bankers are advising them as they consider selling off faraway units and focusing more on assets closer to home or in friendlier countries.

The COVID-19 pandemic revealed the fragility of complex global supply chains. Bankers say they are hearing from more U.S. clients who want to change that by moving manufacturing and supplier operations closer to home.

The New York megabank has a long way to go on its path toward simplification of its business, but some early investments — such as technology upgrades in the treasury unit, which serves commercial customers — are starting to pay small dividends.

Inflation isn't only driving up travel costs — a key category for credit card spending — it's making shoppers more selective about how they earn and redeem loyalty points for products hit hardest by price increases.

A panel of FINRA arbitrators unanimously ordered the award against the megabank based on Erin Ann Daly’s claims of gender-based discrimination.

As the potential for a recession looms, the New York bank is continuing with its plan to grow wealth management and shrink its foreign consumer banking footprint.

The move from Republican senators mirrors an effort launched in the House, where Citibank also provides credit cards for congressional business. Republicans will be unable to enact such changes unless they take either chamber in upcoming elections.

Citigroup says it will add about 900 staffers over the next three years as part of an effort to generate more revenue from midsize firms with global ambitions.

Raymond Gatcliffe, the head of Citigroup's commercial bank in Europe, the Middle East and Africa, will replace Richard Banziger, who is retiring after 38 years with the company.

Recognizing that many of the region's consumers are choosing startups, companies like Citigroup, JPMorgan Chase, Goldman Sachs, Santander and Scotiabank are taking stakes in nascent payment providers.