Citigroup

Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.

The change comes over massive overhaul as the mega bank seeks to build divison under Sieg.

The megabank, which is in the midst of a massive restructuring, will probably book "a couple of hundred million dollars" of restructuring charges in the fourth quarter, according to its chief financial officer.

The departure follows on the arrival of Andy Sieg and comes amid a global overhaul at the wirehouse.

A female Citigroup Inc. equities managing director sued the bank, alleging that she endured "horrifying" sexual assault and harassment by superiors

The restructuring under CEO Jane Fraser will refocus Citigroup on wealth management and four other key business areas.

Citigroup didn't admit any wrongdoing in its settlement of allegations by regulators that employees denied credit cards to people in Southern California suspected of being of Armenian origin.

All eyes will be on the incoming veteran executive as the banking giant seeks to take advantage of expected growth in global wealth.

Citigroup will pay almost $2 million to settle SEC allegation that two of the bank's brokerages recommended trades to customers without appropriately mailing disclosures to them.

In addition to her work as global head of Citigroup's Citi Private Bank, Liu also co-leads the bank's Asian affinity network.