Overview

• Warren Buffett, one of the world's most successful investors, has expressed support for Citigroup CEO Jane Fraser's restructuring plan.
• Fraser is leading Citigroup through its biggest overhaul in nearly two decades, which includes cutting 20,000 jobs and splitting the bank into five interconnected business units.
• Buffett's investment conglomerate, Berkshire Hathaway, is one of Citigroup's largest shareholders, having bought $2.5 billion in Citi shares in 2022.
• Citigroup's shares have gained more than 30% since the restructuring plan was announced.
• More details about the next round of the reorganization will be shared next week.