Markets revenue is expected to drop 8% to 12% in the first quarter compared with a strong comparable quarter in 2023, she said.
Overall, Citi's financial results are likely to be better than expected for the first quarter, she said.
The bank's sweeping reorganization will be completed by the end of the month, Fraser said. That includes simplifying its structure into five businesses, eliminating some committees and reducing duplication in roles.
"It's not rocket science," Fraser said. "Stick to the plan, head down, and just relentlessly execute."
Citi is working to address problems laid out by regulators in enforcement actions, called consent orders, that date back to October 2020.
It is focused on better data governance, improving risk and controls and automation, Fraser said.
"We are being bold," Fraser said. "We're being extremely disciplined in how we execute. It's always a bumpy road, a transformation of this magnitude."
The regulatory setbacks could hinder Fraser's sweeping overhaul as she tries to revive the company's fortunes.
