Citigroup's next CEO has a Herculean task: Turning the bank around for real

Topics Citigroup | Citigroup CEO | Banks


By Imani Moise and Svea Herbst-Bayliss NEW YORK (Reuters) - When Jane Fraser takes the helm of Citigroup Inc in February, she will have some big tasks ahead of her. Citigroup, the third-largest U.S.

lender, has struggled for years to convince Wall Street that management's vision of a global bank with a hodgepodge of profitable, if unrelated, businesses will work. Profit targets set years ago by CEO Mike Corbat proved hard to reach even after revisions and major cost cuts. And although Citigroup is a much different bank than.

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