Up from $26 million in 2023, Jane Fraser's compensation last year saw the largest increase so far among heads of big U.S. banks.

Citi's head of wealth said the firm is already working with a quarter of the billionaires in the world through its private bank. Now it just needs them to entrust it with managing more of their money.

Banks have faced considerable criticism for continuing to profit handsomely from their partnership with Big Oil in the face of a planetary climate crisis.

The megabank is simplifying the management structure of its private bank. Regional leaders will now report directly to Andy Sieg, head of wealth.

Texas and nine other Republican-led states are ratcheting up pressure on Wall Street's diversity programs, asking firms about their policies on hiring and supplier selections as the Trump administration moves to gut DEI.

The ruling lets state Attorney General Letitia James continue arguing Citi should have reimbursed customers for wire fraud, though some claims were dismissed.

The bank is among traditional financial institutions attempting to counter the gains rivals have made in buy now/pay later.

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

JPMorgan Chase, U.S. Bancorp and others shut some branches as wildfires tore through the suburbs of Los Angeles.

Bank of America, Citigroup, Wells Fargo and Goldman Sachs have also withdrawn from the Net-Zero Banking Alliance in the past month, as President-elect Donald Trump prepares to take office.

Richard "Dick" Parsons, the former Citigroup chairman who died Thursday, is credited with helping the New York megabank survive the financial crisis. Earlier in his career, he led Dime Savings Bank out of the savings-and-loan crisis.

The executive dubbed "Captain Emergency" stabilized ailing companies such as AOL Time Warner and Dime Savings Bank before being named chairman of Citigroup in 2009.

This year, American Banker reporters dove deep into topics such as gambling addiction, Citigroup's rebuild, the Small Business Administration, fraud and monetary policy for its feature articles. Check out the most consequential articles of the year.

Banks that don't focus on credit cards for this market may find larger banks and fintechs are eating their lunch.

The U.S. bank was unable to fully sell a block of shares in Australia's Goodman Group it had underwritten for China's sovereign wealth fund.

Citigroup now operates Grupo Financiero Citi México and Grupo Financiero Banamex in Mexico. The New York-based bank is planning an initial public offering of Banamex as soon as regulators and market conditions allow for the public offering.

Andy Sieg, head of Citi's wealth business, says retention bonuses are part of his growth strategy.

The only major U.S. lender with a significant presence in Lebanon, Citigroup has moved a handful of its staff there to Turkey, according to a person familiar with the matter.

Analysts peppered CEO Jane Fraser with questions about whether Citigroup, already hit hard by its regulators, could face asset growth restrictions. She said there is "absolutely nothing" in the works that could impact the megabank's businesses.

The giant card network and the global bank are combining their scale to boost real-time cross-border transfers as fintechs target the market.