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

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

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 global head of Citigroup’s private banking arm and one of its highest-ranking female executives is leaving in a potential blow to chief executive Jane Fraser’s plan to grow its wealth division.

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.

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

NCPRR and NLPC sent Goldman and JPMorgan the anti-DEI proposals, while Bank of America and Citi received proposals from NLPC and The Heritage Foundation asking them to audit whether they have surveilled customers based on their political and religious beliefs, according to the Journal.

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.

According to Gov. Gavin Newsom's office, Bank of America, Citi, JPMorgan Chase, U.S. Bank, and Wells Fargo are offering a 90-day forbearance of their mortgage payments, without reporting the payments to credit reporting agencies.

Bank of America reiterated its positive outlook on Zomato, highlighting considerable upside potential despite short-term challenges. Citi names Hindalco as top pick.

The $400 million Citi spent on naming rights for the Mets ... that’s why the Mets-branded Mastercard offering from Bank of America didn’t last. Even if it can’t help the Mets, Citi ...

Internal guidelines for a big AWS sales team provide new clues on how the company is whittling down management layers.