Citigroup promoted more than 8,000 employees at the end of 2024, following a sweeping restructuring at one of Wall Street’s biggest banks.
The New York-based lender elevated 8,500 employees as part of its year-end process to retain higher-performing staff, bringing the total number of promotions for 2024 to more than 31,000, Citi said on its website. As part of that tally, it also appointed 344 people to coveted managing director roles.
Citi’s late-year promotions drive, which was on a par with previous rounds, came after a broad restructuring in which the bank slashed about 11,000 positions since autumn 2023 and shook up its five main divisions as chief executive Jane Fraser seeks to reach her prime profitability targets.
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