Bloomberg Talks Citigroup CEO Jane Fraser Talks Turnaround Plan, Future
Dec 10, 2024
Jane Fraser, CEO of Citigroup and a trailblazer in finance, discusses the monumental impact of geopolitics on the banking landscape. She explains how adaptability and technology, particularly AI, will shape the future of finance. Fraser outlines Citigroup's ambitious five-year turnaround plan, focusing on modernizing operations and targeting growth in wealth services. She also emphasizes the financial sector's evolving challenges, including market volatility and cybersecurity, shedding light on how these can create new opportunities.
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Geopolitical Shifts in Finance
- Geopolitics will be the biggest shift in global finance, impacting flows of technology, data, and energy.
- The green transition and changing energy flows are also significantly impacting the financial world.
AI's Impact on Finance
- AI's role in finance is still unclear, but it's expected to be substantial, currently impacting productivity.
- It will likely affect competitive edges and business structures, but risk mitigation is crucial.
Citigroup's Global Reach
- Citigroup operates in 160 countries, acting as a local bank in almost 100, facilitating $2,000 trillion in annual flows.
- This network helps clients navigate volatility and adapt to changing global flows.