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Story 373
Story 371. Citibank is truly awful. Their lawyers are some of the most disgusting human beings I have ever come across in my life. I worked for Morgan Stanley and BlackRock before. Those places were decent compared to Citi. There is nothing decent about Citi. Their legal team does not sleep. They are extremely high paid, aggressive lawyers from top law firms. They don’t care what…
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Story 372
The Fear of Accountability That Breaks ERM Tech & Data There’s a particular form of organizational dysfunction that has survived Fraser’s transformation narrative: the management practice of shuffling underperforming employees across the team, or considering them for an unearned promotion to prevent them from quitting. Why? To avoid creating an HR record reflecting poorly on the Managing Director. This extreme form of short-termism trades long-term organizational…
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Story 371
I learned about this site today from a woman who is familiar with the high-profile lawsuits involving Citi. Coincidentally, [REDACTED] of Morgan Lewis, who is representing Citi in some of these matters, was one of the attorneys who represented Merrill Lynch in employment cases in the mid 2010’s. I know because I was a plaintiff. In my opinion, [REDACTED] conduct goes beyond ‘aggressive advocacy.’ And instead…
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Story 369
Over 23 years at Citibank, this Managing Director has perfected a technique for removing targeted employees from impact long before they’re shown the door. The method is simple: quietly strip away their workload, redirect it toward favored staff, and systematically deny them the opportunity to demonstrate their abilities. By the time restructuring or layoffs arrive, the target appears genuinely redundant—crafting the illusion of objective organization management…
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Story 368
The Citi managing director who drugged and raped women was sentenced today. The company’s response? “We cooperated with law enforcement as they sought justice for the victims of these heinous crimes.” How noble. It’s amazing how quickly institutions discover their moral compass once the FBI is involved. I bet a million bucks this wasn’t the first red flag. No doubt this is what happened when the…
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Story 367
A co-worker told me a certain Managing Director “hated me because I came from the team” that she had just taken over. I had made the productive and professional choice to leave that team due to undermining, bullying, retaliation and incompetent management. When she attempted to block my transfer (which had already been agreed with her N+1), I shared with her that I would make a…
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Story 366
Story 365 – I worked briefly at JPM after it acquired First Republic. My experience is that [REDACTED] is a menace, but that’s not what I came here to say. What shocked me was the degree to which employees behaved as though they were part of the Cult of Dimon. No matter how basic or pedantic his advice, people reacted as though they were in the…
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Story 365
Story 364 – this makes me wish even more that I had been in the room when Jamie Dimon told Marianne Lake she was no longer part of JP Morgan’s succession plan. Everyone knows how ambitious she is. The rumours that she turned down a generous retention package rather than remain in her role, keep quiet, and watch her career quietly sidelined tell you everything you…
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Story 364
I left the industry in the mid 2010s to start a marketing agency, having concluded that even the “good guys” are prejudiced against women. I was working at a Big 5 bank for a woman (let’s call her ‘S’) who may have been the hardest working person to walk the earth. She was married; her husband was a disgruntled lawyer who volunteered to stay at home…
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Editor’s Note
We are pleased to announce that our redesign is looking fabulous. Not only is the site gorgeous, it has search, the ability to upvote posts, make contact with journalists, and more! But due to the fact that Wall Street goes quiet in the month of August, we have decided to delay our go-live until early September. This will give our sister-site more time to prepare for…