Can Citigroup stock ever catch up to JPMorgan Chase, BofA, Wells Fargo?
Justin Baer (with Andrew Ackerman) at WSJ did a comprehensive rundown of Citigroup history, and whether CEO since March 2021, Jane Fraser, can turn it around.
WSJ reports the stock has “been stuck more than 80% below its high for 15 years,” and she’s taken a lot of decisive action in the last year especially.
She announced plans to cut 20,000 jobs across multiple business lines and geographies.
If anyone can pull this off, she can. She’s known for being no-BS transparent, and over her 20 years with the firm has run the following operations:
-Citi private bank
-Citi mortgage lending
-Citi U.S. consumer banking
-All of Citi Latin America
A total pro.
Still the chart above relative to peers is how success will be measured.
It could be one of the truly great turnarounds.
Since falling in 2008, Citigroup stock hasn’t recovered. Will Jane Fraser’s turnaround work?
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Check It Out:
– The Clock Is Ticking on Jane Fraser’s Citigroup Turnaround