Ida Liu, the head of Citi’s private bank, will exit this month. Andy Sieg, who runs the bank’s wealth business, said on Monday in a memo that Liu had informed him of her decis

Liu, who will leave at the end of the month, has led the part of Citigroup that caters to its highest-wealth clients for almost four years and has had an 18-year career with the New York-based bank.

Ida Liu, an 18-year veteran of the bank, did not detail her future plans. Citi eliminated her post and will instead have four regional private-banking chiefs.

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

Last year, the wealth business saw departures of private bankers to Bank of America as well as a wave ... Christian Zeinler as head of strategy for Citi Wealth and head of business execution ...

Berkshire took a new stake in Citigroup ( C 1.88%) in 2022 and the stock currently makes up 1.5% of Berkshire's portfolio. Citigroup has far and away been the worst-performing large U.S. bank stock since the Great Recession and many investors have ditched the stock out of frustration.

The lender rebuffed allegations that it is less welcoming to conservatives after the president blindsided CEO Brian Moynihan with a barb during a Q&A session at the World Economic Forum in Davos, Switzerland.

In a report released today, Keith Horowitz from Citi maintained a Buy rating on Bank of America (BAC – Research Report). The company’s shares

Last year, the wealth business saw departures of private bankers to Bank of America as well as a wave ... Christian Zeinler as head of strategy for Citi Wealth and head of business execution ...

Goldman Sachs (GS) and JPMorgan Chase (JPM) are being pushed by right-leaning activist groups to abandon or shrink their diversity, equity and

Citigroup is eliminating the role held by Ida Liu and has appointed four regional heads who will report directly to Andy Sieg, head of the bank’s wealth business. This story originally ran on Financial Advisor IQ sister publication FundFire.

The great unravelling of the net-zero stranglehold on financial and investment markets has begun. The latest evidence is the push by Coalition MPs and a New Zealand minister for Australia’s large banks to abandon an international net-zero pact.