A prominent Citigroup executive is leaving as the bank reorganizes an elite arm of its wealth management business, the latest shift in a series of significant structural and leadership changes at Citi in recent years.

Liu’s exit will thin the limited number of high-ranking female executives on Citi’s org chart below Fraser. While not on Citi’s executive management team, Liu, along with Tasnim Ghiawadwala, who runs Citi’s commercial bank, was among just a handful of top women leaders there.

Leaders in Citi's technology unit and its "crown jewel" services unit announced a raft of changes as key leaders step down.

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

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

Citigroup Inc. eliminated more jobs this week, just as executives were announcing new share buybacks and doubling down on Chief Executive Officer Jane Fraser’s commitment to expense reductions.

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

Among those innovations is Citi Payments Express, the bank’s “simplified banking platform.” The bank converted 4 million retail bank customers to the platform in 18 countries. The bank spent $11.8 billion on technology in 2024, with a focus on digital innovation, new product development, client experience and cybersecurity.

Citi armed 30,000 developers with generative AI coding tools as part of an ongoing modernization push, CEO Jane Fraser said, during the bank’s Q4 2024 earnings call Wednesday.

Citigroup reported fourth-quarter results that exceeded expectations, sending shares higher in pre-market trading Wednesday.

Citigroup Inc. eliminated more jobs this week, just as executives were announcing new share buybacks and doubling down on Chief Executive Officer Jane Fraser’s commitment to expense reductions.

Citi, one of the world's leading financial institutions, has reported a strong fourth quarter in 2024, exceeding its full-year revenue target and delivering robust fee growth across various businesses.