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Among all the major large banks, Citigroup has some of the deepest business relationships with the Kingdom and its massive business empire that includes petroleum production and more recently a move into other businesses such as technology..
But even with new CEO Jane Fraser taking over the bank just this week, Citi will maintain those ties, according to people close to the company.
With a market capitalization of nearly $145 billion, Citigroup is the nation s fourth-largest bank behind Wells Fargo, Bank of America, and industry leader JP Morgan. A company spokeswoman would not deny Citi will continue its close relationship with the Saudis.