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Story summary
- Citigroup Inc. is reducing its investment-banking analyst program from three years to two years.
- Co-head of investment banking David Friedland says the change will give junior bankers faster responsibility and higher pay.
- Citi hopes the shorter program will cut analyst departures to rival banks, private-equity firms, or hedge funds.
- Current third-year analysts will be eligible for associate promotion on January 1, 2027, subject to performance.