In a transformative organizational shift recently announced by Citigroup, Kristine Braden, the CEO overseeing Citigroup’s core operations in continental Europe, is set to leave the company after a distinguished tenure of 25 years. This decision comes in the wake of Citigroup’s broader restructuring initiative, designed to streamline the firm’s operations and bolster CEO Jane Fraser’s direct influence as she strives to simplify the organizational structure and enhance shareholder value.
Braden has held several pivotal roles within Citigroup, including her tenure as the CEO of Citibank Europe. Notably, she has also helmed the Citigroup Global Markets Europe AG unit.
Reflecting on her remarkable journey at Citigroup, Braden expressed her sentiments, stating, “I have had an incredible 25+ years with Citi, living and working in 10 different countries. Citi allowed me to fulfill my dream of an international career. I wouldn’t change that for the world,” as conveyed through an email statement issued by Citigroup.
Following the announcement of this organizational revamp, Citigroup executives have already initiated dialogues with employees regarding potential workforce adjustments. These adjustments are expected to primarily impact support roles within compliance and risk management, according to sources acquainted with the situation who shared insights with Reuters.
The Wall Street behemoth aims to refine its operational efficiency and strengthen its stock performance through this strategic overhaul, a notable development within the realm of global finance.
Source, Reuters
