Citigroup’s ruthless remake

Wall Street banks are set to report their biggest haul from investment banking fees in four and a half years, while Citigroup boss Jane Fraser has ruthlessly rebuilt the bank to get it back to its pre-financial crisis glory. The US launched another round of strikes against Iran, and trustees at the World Economic Forum are clashing over leadership reforms.

Mentioned in this podcast:

Wall Street feasts on fees from SpaceX IPO and mega-mergers

Jane Fraser’s ruthless remake of Citigroup

Iran bets Trump will blink first

US and Iran exchange fresh strikes in battle over Strait of Hormuz

World Economic Forum trustees clash over leadership reforms

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The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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