Citigroup’s CEO Willing to Adjust Staffing Levels in Investment Bank
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Citigroup Inc. Chief Executive Officer Jane Fraser said the company is willing to make adjustments to staffing levels inside its investment bank as the firm and its rivals continue to deal with an industrywide slump in dealmaking and underwriting activity.
The New York-based company no longer expects a rebound in investment-banking activity this year, Fraser said in a Bloomberg Television interview Monday at the Milken Institute Global Conference in Beverly Hills, California. Corporate clients continue to be whipsawed by the Federal Reserve’s aggressive push to raise interest rates and the ongoing US debt-ceiling debate, she said.