Citigroup surpassed Wall Street expectations in the second quarter, reporting a profit of $1.52 per share, driven by a 60% increase in investment banking revenue. The company's CEO, Jane Fraser, highlighted progress in executing their strategy and the benefits of their diversified business model. Despite being fined $136 million by regulators for data management issues, Citigroup showed resilience with a 4% revenue increase to $20.1 billion. Fraser is leading a major overhaul to improve performance, cut costs, and simplify operations. Investment banking fees surged, and services revenue increased by 3%. The restructuring under Fraser’s leadership aims to streamline operations and increase profits. Citigroup is also focused on growing its wealth management division and U.S. personal banking revenue. Investors have shown confidence in Fraser's turnaround efforts, with the company's stock surging 28% this year, outperforming competitors. Despite regulatory challenges, Citigroup's transformation under Fraser's guidance is on track for a leaner, more profitable future.