(CNBC) Citigroup is shuttering another Wall Street business as CEO Jane Fraser pushes ahead with her overhaul of the bank. The company decided to close its global distressed-debt group, according to people with direct knowledge of the move. Citigroup is exiting businesses with poor returns to bolster the bank’s odds of hitting Fraser’s performance targets.
Citigroup to close global distressed-debt business as part of CEO Jane Fraser’s overhaul
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