UBS Chairman Axel Weber, in particular, is reportedly the one leading the potential deal, the story states, with a possible agreement as soon as early next 2021.
Chief Executive Officer of Citigroup Michael Corbat speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne
Clodagh Kilcoyne/Reuters
The big news of last week was the announcement that Citi CEO Michael Corbat would retire in February 2021, handing the reins to Jane Fraser, the bank’s president.
Dakin Campbell has the inside story on the lead up to the announcement, specifically the pressure Corbat faced from regulators about getting Citi’s risk, compliance, and technology systems under control.
Dakin, as always, was super sourced up on this, chatting with seven insiders about how the entire thing shook out.