Jane Fraser has hit the midpoint of what the chief executive has called a critical year in her plan to fix Citigroup. If she’s successful, Citi might be the biggest turnaround story in recent Wall Street history. Interviews with more than three dozen current and former Citigroup executives, board members, clients, competitors and investors reveal that doubters are easy to find. As Fraser sat listening to a call with bankers that month, the outline of a turnaround plan took shape. As news of his appointment spread, he told some associates he could be a future CEO candidate if the turnaround succeeds.

Source: Wall Street Journal June 25, 2024 13:05 UTC