Citigroup's Strategy Refresh Will Not Happen Overnight, But It Is Moving Along
After new CEO Jane Fraser took over the top management spot earlier this year, Citigroup (NYSE: C) began what looks to be a multi-year strategy refresh. It involves correcting regulatory issues, simplifying the bank, investing in businesses that the bank has momentum and scale in, and ultimately boosting returns to get better in line with peers.
While progress this year on these efforts does feel slow at times -- and the stock has been a bit sluggish compared to peers -- the plan from Fraser and her management team is moving forward, albeit not always in the smoothest fashion. Let's see where things stand and what it might mean for the stock.
Citigroup CEO Jane Fraser. Image source: Citigroup.
Source Fool.com
