The company gave away $893 million to the wrong company.
The company was fined $400 million for the mistake as well.
Not very good since we are in the business of managing money.
The company’s net income dropped 26%.
We are selling off parts of the business to stay afloat most likely due to the above.
Raises and bonuses are sparse because of the above.
Citi reported an 18% year-over-year increase in operating expenses to $13.5 billion for the quarter.
The vaccine mandate while 99% have reported being vaccinated, the mandate has fostered a resentment on such a deep level that I’ve never seen before.
Our main focus has been ESG and making sure we are LGBT friendly, while this is important I don’t understand how this strategy generates $. We are sinking and need a plan.
I’ve never heard of anyone weigh the pros and cons of banks and lean toward Citi over others because of being ESG\LGBT friendly. The comparison of banks is usually over offerings and money management and well you see how that’s been going.
Ok, so give all the promotions and new hires and highly visible projects to LGBT folks, great, awesome, why not, tearful tree hugging cheers and all that….. I say this as I myself am g-y and could care less if anyone believes me or not.
Ok, now lets focus on a strategy to compete with other financial institutions and generate revenue. I hate to sound materialistic but we are in the business of money. It keeps the lights on and people paid. If being ESG\LGBT friendly IS your ONLY strategy and that’s all you’ve got, we are doomed as you need something else other than this.
Please tell me you’ve got some other plan. Please tell me we are not solely pinning our hopes on this only.