Citigroup sets new rewards structure for banking and wealth referrals
Employees will be paid directly for generating business instead of sharing revenue between the group’s units
Employees will be paid directly for generating business instead of sharing revenue between the group’s units

Revised goals involve net revenue and value of assets clients entrust to Citi as business has lagged Wall Street peers

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

Clients with less than £500,000 in assets will be charged £100 a month from June

Chief executive Jane Fraser is pushing through bank’s biggest restructuring in more than a decade

Wall Street bank to draw on asset manager’s expertise to oversee $80bn in client assets

Shares in Wall Street bank fall 3% in pre-market trading