Automation could thin Citigroup's investment banking unit jobs - FT
Operational positions were the "most fertile for machine processing," the FT reported https://on.ft.com/2sKGGvZ, citing Jamie Forese, chief executive officer of the bank`s institutional clients group.
"We`ve got 20,000 operational roles. Over the next five years could you make it 10,000?" Forese was quoted as saying in the FT article.
Under tremendous pressure from investors to boost profits, but unable to grow revenue much, banks have increasingly turned to technology to reduce costs.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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