Citi Cuts More Jobs in Push to Meet CEO Fraser’s Expense Goals

Citigroup Inc. eliminated more jobs this week, just as executives were announcing new share buybacks and doubling down on Chief Executive Officer Jane Fraser’s commitment to expense reductions.

Managing directors in the wealth business and technology unit are leaving the bank, according to people familiar with the matter. The firm is also cutting a team that compiles data and analysis on Citigroup’s clients, one of the people said, asking not to be named discussing private information.

Jane Fraser

Photographer: Ting Shen/Bloomberg

The sprawling global bank is trying to streamline its operations and lift profitability to compete more closely with its rivals, with an ...