Citigroup Inc. will be searching for a new leader of its wealth management unit, The Wall Street Journal reported on Wednesday, citing unnamed sources familiar with the plan.
Aiming to restructure the way the business is being led, the bank moved Jim O'Donnell from the post of global wealth management head to the role of vice chairman and chief of senior client engagement of Citigroup.
The unit has reportedly missed goals on revenue and is looking to reduce costs.
