Ida Liu, the head of Citi’s private bank, will exit this month. Andy Sieg, who runs the bank’s wealth business, said on Monday in a memo that Liu had informed him of her decis

The megabank is simplifying the management structure of its private bank. Regional leaders will now report directly to Andy Sieg, head of wealth.

Ida Liu, an 18-year veteran of the bank, did not detail her future plans. Citi eliminated her post and will instead have four regional private-banking chiefs.

The global head of Citigroup’s private banking arm and one of its highest-ranking female executives is leaving in a potential blow to chief executive Jane Fraser’s plan to grow its wealth division.

Liu, who will leave at the end of the month, has led the part of Citigroup that caters to its highest-wealth clients for almost four years and has had an 18-year career with the New York-based bank.

In a report released today, Keith Horowitz from Citi maintained a Buy rating on Bank of America (BAC – Research Report). The company’s shares

CNBC Select reviews Bank of America mortgage offerings, including purchase loans, refinancing, closing cost grants and more.

Following Trump's lead, organizations including Walmart, Lowe’s and Meta, have announced they would scale back their commitments to diversity, equity and inclusion programs.

Internal guidelines for a big AWS sales team provide new clues on how the company is whittling down management layers.

DBS will remain in the Net-Zero Banking Alliance, even after six of the largest US banks have left. Read more at straitstimes.com.

Read here for an analysis of Bank of America's Q4 results, challenges, and potential for earnings acceleration and returns in the current economic environment.

In the latest shakeup, four regional heads serving the firm's highest-wealth clients will report directly to Citigroup's wealth chief Andy Sieg.