From an executive shakeup to a $400 million fine from regulators: Here’s all you need to know about tumultuous times at Citigroup

SourceBusiness Insider
SectorEconomy
CountryMiddle east

On Wednesday, US regulators announced $400 million in fines against Citigroup for "related to deficiencies in enterprise-wide risk management, compliance risk management, data governance, and internal controls." It's the latest in what has been a volatile few weeks for the global bank, which announced a change in leadership in September. Business Insider has previously reported on issues regulators had with Citi's inability to fix risk, compliance, and tech systems.   Visit Business Insider's homepage for more stories. It's been a complicated month for Citigroup. The third-biggest US bank by assets shocked Wall Street in September when it announced Michael Corbat, Citi's chief executive, would be retiring in February. Jane Fraser, the bank's president and CEO of its consumer banking division, was named Corbat's successor, making her the first woman to serve as the chief executive of ...read more...