Citigroup chief executive Jane Fraser is considering a plan to disband the bank's biggest division, the Financial Times reported on Monday.

The plan would split the Institutional Clients Group — which generated nearly three-quarters of Citi's $14.8 billion in net 2022 profits — into its three primary business segments: investment and corporate banking, global markets and transaction services, the FT report said.

(Reporting by Lavanya Ahire in Bengaluru; Editing by Nivedita Bhattacharjee)