https://www.cnbc.com/2022/11/23/citigroup-faulted-by-us-banking-regulators-for-poor-data-management-in-living-will-review.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
24 replies (most recent on top)
That ‘s about right!
She has absolutely no vision for either points. Let’s do this….
Bring people into the office. Make them all wear the same shirt and have them stand in front of the Citi sign outside the office building with a smile and thumbs up gesture for a photo op for the media. THAT….is the Citi’s way of showing how successful we are, not in the rise of the stock price. Other banks chose a different option like making the stock price go up.
You can’t have it both ways.
You can’t claim all the glory when things go well but none of the blame when it doesn’t.
Visible assignment are assigned to wrong people. This is all it about. Tons is talents in citi but the most important work are assigned to brown nose. Managers think no. Problems mean never problem so they can do whatever they want. But you see.
More problem means more money for middle managers. Jane understand who is giving you all headache? Sorry but what can you do? So spend more and more so middle management are happy then they will give the job to the right people not id--ts just hired from your competitors
Actually the point is do someone care? Yes Jane cares because she is responsible . But the lower level who actually did this job could say so what we still can blame on technology then hire more people although we have current resource could do it. We want hire more to get more bonus and powerful. If we do not get the credit, we will have to creat more problems.
I wish the leadership would actually lead. Its embarrassing to be compared to other banks and be publicly shown how short we fall in that comparison.
Correct. Massive hirings everywhere but the US. You can see that on the job boards. No refuting that for sure.
Meh. I’ll have as much sympathy for upper management as they do for the people they layoff as a result of their bad management decisions. Oh that’s right…..none.
The “yes men”, much like yourself, span from top to bottom, not just mid management only.
Show 100percent sympathy to Jane. You are against the CIti culture if you want to solve the problems. However if you go with wind, you will be the one eventually being blamed on. How can you fight with all these yes men who occupied most of your middle level management?
Its the typical CEO defense. If something happens thats good, no matter even if it was initiated well before or after they took the role, CEO’s assume full credit for being a genius. If something bad happens, no matter if it was initiated well before or after they took the role, they “inherited it” and its not their fault. Ok, now, queue the “yes men”.
I have no idea why Jane fosters such things as that. I agree.
Jane will not see any issue because all she have heard is my group did a great job meeting deadline or my friends I just promoted as a manager are perfect. As a team player, we work together to hide problems from jane.
If the office politics of covering friends and relationship promotion are not changed, the issues will be found by outsiders more and more often. Yes men can only so SALY and never solve problems.
Jane didn’t “find” anything. Outside regulators did. All Jane found was a piece of paper on her desk from the regulators telling her yet once again, when compared to other banks, Citi has fallen behind the curve.
You speak as if Jane just stepped into Citi and got blindsided.
Jane was:
Head of Client Strategy
Global Head of Strategy and Mergers and Acquisition
CEO of CitiMortgage
CEO of US Consumer and Commercial Banking,
President of Citigroup and Head of Global Consumer Banking (GCB)
And now CEO
She’s been in mgmt for quite a while now and on some level if not directly has had a hand in the way things are now. She inherited the mess that she helped create and has done nothing to make things any better. She can’t even keep us on the same level as the other banks as has been clearly proven time and time again. This latest SNAFU is no different. It seems that being constantly surrounded by sycophants as a plan of action is not working. LOL
I agree 100%, Jane must go to fix the problems.
Well said.
Jane is showing us new levels of excellence.
Jane leadership at its finest. Once again taking us to new heights…..not.
Well, yes and no. Massive layoff move will be first, followed by hiring third party auditors to figure out “where we went wrong”. Embarrassing to be the ONLY bank out of the top 8 to fall short in this area.
Massive hiring spree is coming massive!!! Mark these words. This is a small bump on a bright road. Go Citi!!
Citi stock dropped today by 2.2% after this news was released. Yet once again, falling short where other banks succeed.
This finding is the reason why no one has any faith that our leadership will handle the up coming layoff any better.
This shouldn't be a surprise to anyone that works here. The only surprise is that this leadership team and this bank continue is allowed to operative in this manner for years