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.

A hard-fought battle between Citigroup and creditors of Revlon over an epic blunder in which the bank accidentally sent the lenders almost a billion dollars was finally capped with a legal pronouncement: Case dismissed.

Citigroup said it will wind down its consumer banking business in China, a move that is expected to affect about 1,200 employees in the country.

Citigroup told employees they can work from anywhere for the final two weeks of the year, as Chief Executive Jane Fraser bucks a trend among rivals to get office workers back to their desks full time.

The Texas Attorney General's office will decide by Jan. 13 whether Citigroup "discriminates" against the firearms industry, a ruling that will determine the bank's ability to underwrite most municipal bond offerings in the state.

Citigroup and creditors of Revlon fighting over an accidental $900 million payment the bank made two years ago said they are close to resolving their litigation over the mistake.