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.