Under the proposals, banks with at least $100 billion in assets would have to boost the amount of capital set aside by an estimated 16%.

Net income — which analysts estimated would fall 22% — rose slightly, the New York-based firm said Friday.

The proposals appear "somewhat bizarrely" to be a response to the problems at U.S. regional banks in March, according to Citigroup Chairman John C. Dugan.

The bank has already axed 5,000 jobs this year, costing $400 million in severance in the second quarter alone. This next phase will be more about eliminating the executive roles that sit two or three layers below the CEO.

In addition to her work as global head of Citigroup's Citi Private Bank, Liu also co-leads the bank's Asian affinity network.

The product will transform customers' deposits into digital tokens that can be sent instantly anywhere in the world, the company says.

Kristine Braden, the head of Citigroup's Europe unit, is leaving the U.S. lender amid Chief Executive Officer Jane Fraser's comprehensive reorganization of the top management structure to boost returns.

More than half of investment firms for the world's superrich seek opportunistic direct deals based on attractive valuations, Citigroup found in a survey of 268 family offices representing $565 billion in net worth.

The company is ditching standard account packages and will instead adopt "relationship tiers" that are based on customer's deposit and investment accounts.

After an aborted attempt to set up its own bank, Edward Jones is joining forces with Citi to provide savings and checking accounts for clients.

The monitoring, which is already in place in the U.S. came after a month-long consultation with U.K. employees.

The license allows New York-based Citigroup to separate the institutional and private bank businesses from its consumer, small-business and middle-market operations in Mexico.

Higher interest rates and larger card balances set the stage for an 11% jump in revenue from U.S. personal banking in the second quarter. That blunted the impact of a 78% surge in write-offs tied to consumer loans.

"I got cut," he told The Bond Buyer. "I'm looking for a new job now."

While the vast majority of staffers are following the firm's rules for hybrid work, the moves are focused on those employees with persistent, unexplained absences.

Citigroup CEO Jane Fraser says the company's abrupt decision to abandon a long-running sales process of its Mexican retail operations won't change its medium-term guidance nor the eventual plan to exit the unit and allows stock buybacks to resume.

Citi was unable to reach a deal despite more than a year of talks with a long list of suitors for its consumer, small-business and middle-market banking divisions across Mexico.

The move threatens to upend efforts by the billionaire German Larrea's Grupo Mexico to purchase the retail operations of Banamex, one of the country's oldest banks, from Citigroup.

As fintechs struggle, the bank is introducing a line of credit and plans new installment lending products shortly after launching its buy now/pay later product on Amazon Pay.

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.