Citigroup's CEO, Jane Fraser, has taken steps to reinvigorate the company's culture by focusing on performance and accountability. According to a memo sent to staff, Fraser emphasizes the need to move away from old habits and adopt a more performance-oriented approach.

A New Culture Takes Shape

The memo, which was obtained by Business Insider, highlights the importance of employee performance and accountability in driving the bank's success. Fraser stresses that employees will be held to high standards and will be expected to meet specific targets and goals.

Fraser also emphasizes the need for employees to be adaptable and resilient in the face of a rapidly changing industry. The memo notes that the bank's employees will need to be able to navigate complex and uncertain environments, and will require advanced skills and expertise to succeed.

Key Takeaways from the Memo

According to the memo, some of the key takeaways for employees include a focus on customer satisfaction, a commitment to innovation, and a willingness to take calculated risks. The memo also emphasizes the importance of teamwork and collaboration, noting that employees will be expected to work closely with colleagues to achieve shared goals.

Fraser also highlights the need for employees to be accountable for their actions and outcomes, and to take ownership of their performance. The memo notes that employees will be expected to provide regular updates and feedback, and will be held accountable for meeting their targets and goals.

Impact on Employees and the Industry

The memo is likely to have a significant impact on employees, who will need to adapt to new expectations and standards. The memo also highlights the importance of employee development and training, noting that the bank will provide resources and support to help employees build the skills and expertise they need to succeed.

The move is also likely to have implications for the wider industry, as other banks and financial institutions may follow Citigroup's lead and adopt similar cultures and approaches. The memo highlights the need for banks to be adaptable and resilient in the face of a rapidly changing industry, and to prioritize innovation and customer satisfaction above all else.

The memo is a significant development for Citigroup, and highlights the company's commitment to adapting to a rapidly changing industry. The move is likely to have a significant impact on employees and the wider industry, and will be closely watched by analysts and observers.

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Citi's Ceo Jane Fraser Warns Staff in Memo: Old Habits Are Out, and Performance Is in