Last year, Citi announced that it was looking to dispose of the consumer, small-business and middle-market banking divisions in Mexico, while holding on to the institutional operation. 

Citi and many large rivals have already begun trimming positions as they cope with the dealmaking drop that's cut into fees across Wall Street.

Amazon Pay — which provides one-click checkout on thousands of e-commerce sites — has added support for Citi Flex Pay, Citigroup's point-of-sale credit card loans, as competition for buy now/pay later customers expands to digital wallets.

The bank continues to relocate staff following a pause during Covid-19 and is also in the process of moving some products, she said.

Though revenue growth remains a challenge, Citigroup is still committed to its global wealth management expansion plan, CEO Jane Fraser said Friday. Andy Sieg is joining the bank from Merrill Lynch in September as head of global wealth management.

Revenue from fixed-income, currencies and commodities trading unexpectedly rose 4% to $4.5 billion in the first quarter, as clients reacted to changing interest rates, the company says. Net income rose 7% to $4.6 billion.

In a sudden shift, Merrill's leader of the past six years is heading back to rival Citi, where he will be head of global wealth and drive its expansion.

The move comes after rivals Bank of America and Goldman Sachs Group cut CEO pay, while JPMorgan Chase and Wells Fargo left theirs unchanged.

Citigroup has one of the more flexible policies on Wall Street when it comes to remote work. But if a worker's productivity dips, they can expect to spend more time in the office.