The longtime finance chief prepares to hand off the CFO role to Gonzalo Luchetti after helping steer Citi through restructuring and solid performance in 2025.

Citi’s leadership is explicitly linking staff cuts to investments in AI. The bank’s CFO, Mark Mason, said in a media briefing on Wednesday that he expects headcount “to continue to trend down” this year as Citi gains productivity from AI tools. Fraser echoes that view in her memo, saying AI will transform work.

Memo to 200,000 staff ties tougher performance expectations and job cuts to the banking's push into automation and artificial intelligence.

Bank of America CEO Brian Moynihan expects his bank’s workforce to shrink as the lender leans into AI. Citi CEO Jane Fraser, meanwhile, said the “bar is raised” for working at the bank.

Citi's CEO pledged to save billions by cutting jobs. A new memo and statements by the bank's top brass shed light on how that will play out in 2026.

Q4 earnings beat lifts stock; see NII outlook, efficiency ratio targets and segment trends in investment banking & wealth.

Citigroup Inc. is set to cut about 1,000 jobs this week as part of Chief Executive Jane Fraser’s march to keep a lid on costs and improve returns at the Wall Street bank.

The Citi® / AAdvantage® Platinum Select® World Elite Mastercard® is a good option if you want American Airlines perks for a lower annual fee. The card charges a $0 annual fee for the first year (then $99), and you still get a free checked bag and preferred boarding for you and up to four companions.