Both execs were viewed as prime contenders to take over from chief Jamie Dimon—a big deal in an industry where only one woman (Citi's Jane Fraser) has ever run a major bank. For a stretch ...

In a notable divergence from the banking industry's return-to-office trend, Citigroup (NYSE:C) CEO Jane Fraser said the lender will maintain its hybrid work model, according to a recent media report.

Announcing a new role for Piepszak as COO, he said "her clear preference is for a senior operating role working closely with Jamie [Dimon] and in support of top leadership going forward.” ...