The U.S. Department of Justice is investigating Citigroup regarding transactions linked to Iran’s Supreme Leader. This inquiry is part of a broader federal probe into money laundering and corruption. Citigroup declined to comment on its involvement in the investigation.
Separately, Citigroup appointed Rajeev Garg to lead its wealth management division in the United Arab Emirates. Garg will oversee strategic growth for the bank’s wealth business in the region. The appointment targets expansion within high-net-worth client segments.