Citigroup CEO makes sweeping management changes to simplify bank, cut jobs

By Tatiana Bautzer

NEW YORK (Reuters) -Citigroup CEO Jane Fraser announced a major management reorganization that will see more job cuts and give her more direct oversight over its businesses as she seeks to simplify the bank’s structure.

The heads of the bank’s five businesses will now report directly to Fraser. They include: Shahmir Khaliq, who runs services, Andrew Morton in markets, Peter Babej for investment and corporate banking on an interim basis, Gonzalo Luchetti in U.S. consumer…