Citi CEO Elevates Performance Standards for Staff

Citi’s Chief Executive Officer, Jane Fraser, is setting a new tone for the financial institution in 2026. In a memo to over 200,000 employees, she emphasized the need for higher performance and a more commercial mindset across the organization.

Citi Sets New Performance Standards

Fraser’s memo, titled “The bar is raised,” outlines her expectations for the team. She insists that employees need to actively seek business opportunities and abandon outdated habits. The message is clear: performance metrics are based on results, not merely efforts.

Job Cuts Amid Transformation Plan

Citi is also reinforcing its commitment to a major restructuring strategy known as the “Transformation.” Initially launched in early 2024, this plan aims to reduce the workforce by up to 20,000 over three years. So far, the bank indicates that over 80% of the Transformation plan is completed.

• Projected cost savings: $2.5 billion from job cuts.
• Recent job cuts: Approximately 1,000 positions eliminated.

Fraser pointed out that this streamlining will introduce automation and artificial intelligence (AI) into various roles, ultimately transforming how work is performed at Citi.

Financial Performance and Future Investments

In its fourth-quarter report for 2025, Citi reported revenues of around $85 billion, a 6% increase from the previous year. Key financial indicators included:

• Investment banking fees: Nearly $1.3 billion (10% increase from Q3, 35% year-over-year).
• Advisory fees: Roughly $650 million (over 80% increase year-over-year).

Fraser’s leadership strategy includes hiring top talent for critical roles, particularly within investment banking and wealth management. She has recruited high-profile executives such as Viswas Raghavan and Andy Sieg to drive these initiatives.

Focus on Innovation Through AI

Fraser stated that the emphasis on AI adoption and automation is crucial for fostering innovation within the bank. Her aspirations include simplifying processes beyond risk management to enhance productivity and maintain competitiveness in a rapidly evolving market.

Through these strategic measures, Jane Fraser aims to reshape Citi’s future, ensuring the organization adapts to the changing dynamics of the banking industry while maintaining high-performance standards.