Citigroup Inc. ( C - Free Report ) announced an organizational restructuring to simplify and eliminate extra management layers. This will make the decision-making process swifter, drive increased accountability and enhance the focus on clients. The new model removes management layers in Personal Banking & Wealth Management, and the Institutional Clients Group. The bank also reduces existing regional layers in the Asia Pacific, Europe, Middle East and Africa, and Latin America. Specifically, the leaders of each of C's five main businesses — Banking, Markets, Services, Global Wealth Management and U.S. Personal Banking — will report directly to CEO Jane Fraser and be members of the Executive Management team. The company also consolidates the leadership of the firm's international business under Ernesto Torres Cantú, Head of International. Also, the Banking and International segments will share a common management team to facilitate better connectivity for clients.