Citi Bonuses Buy Time for New Wealth Boss’s Rush to Revamp
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Citigroup Inc. was preparing to declare its wealth business a key piece of the bank’s growth strategy, but behind the scenes technology kept stirring up trouble.
Ultra-rich clients complained about outdated platforms that didn’t stack up against competitors, and relationship bankers privately agreed. Again and again, a pair of Dallas-based tech executives sought to assuage those concerns, flying to New York to give presentations on how much they were going to achieve with two years and more than $1 billion.