Citigroup profit slips as expenses rise amid sweeping overhaul
Chief executive Jane Fraser is pushing through bank’s biggest restructuring in more than a decade
Chief executive Jane Fraser is pushing through bank’s biggest restructuring in more than a decade

Head of the Wall Street lender’s US retail bank will become its chief financial officer in March

Pay bump makes her among the best-paid CEOs at a Wall Street bank

Roles of board leader and CEO will be reunited in move to underscore her leadership amid radical overhaul

Bank stood by Andy Sieg, a potential successor to CEO Jane Fraser, after investigation by law firm Paul Weiss

JPMorgan Chase, Goldman Sachs and Citigroup buoyed by return of dealmaking

Employees will be paid directly for generating business instead of sharing revenue between the group’s units