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Citi’s CEO forecasts rise in banking fees, Q1 optimism



Citigroup CEO Jane Fraser anticipates a low-teens percentage increase in investment banking fees in Q1 versus Q4 2023, despite expecting a 8-12% drop in markets revenue from a strong Q1 the previous year. She remains optimistic about exceeding expectations for Q1 results. Fraser also highlighted the nearing completion of Citi’s reorganisation, aimed at streamlining into five businesses to reduce complexity and role duplication. An investor day is scheduled for June 18, focusing on its services business, which saw record revenue last year. Citi continues to address regulatory concerns, including those from consent orders since October 2020, focusing on improving data governance and risk management. Despite challenges, Fraser emphasises disciplined execution in the bank’s transformation.

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