Turnaround of Citigroup: Challenges Ahead for Jane Fraser
| Case Code: LDEN233 Case Length: 17 Pages Period: 2023-2025 Pub Date: 2025 Teaching Note: Available |
Price: Rs.400 Organization : Citigroup Inc. Industry :Banking Countries : United States Themes: Leadership Style, Turnaround Strategy, Leadership Style,Technology in Healthcare,Restructuring |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background Note – Citigroup
The 2008 global financial crisis had pushed several American banks to the verge of bankruptcy. Citi was also one of those affected. Even before the financial crisis hit Citi, the bank was struggling to generate growth in its net income, a fact attributed to its several businesses. The global financial crisis added to its troubles and Citi was teetering on the brink of collapse until it was rescued by the federal government. Subsequently, the top leadership decided to focus on transforming the bank. Fraser, then head of strategy at Citi, said, “We thought the whole US financial system was going down, and when you have been through that, when you think everything has gone – all customer deposits, all savings in the system, and the rest of it – you have extraordinary clarity. You are remarkably indifferent to some of the decisions you have to make about your own institution. Every vested interest goes out of the window.”..
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