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Photographer: Annie Tritt for Bloomberg Businessweek
The Big Take

Jane Fraser Has a Plan to Remake Citigroup While Tormenting Rivals

The first woman to lead a top U.S. bank is betting on the wealth business, cutting back global branches, and going slow on the return to offices.

One of Citigroup Inc.’s more serendipitous real estate investments turned out to be the roof deck it built into its newly renovated downtown New York headquarters. With sweeping views of the Hudson River, it’s a thoroughly ventilated space that investment bankers and traders can slip away to for some socializing or after-hours cocktails. Not a bad perk for those back in the office in the midst of the lingering pandemic. Wall Street’s Toughest Turnaround by ...