Story 58
I am based in Citigroup’s New York office. While I cannot speak to other business units, the Equities floor regrettably lives up to its longstanding and notorious reputation for dysfunction. A small cadre of MDs and their favored allies effectively dominate the culture, fostering a cliquish environment. Although the Equities division now includes a notable number of female MDs, many appear integrated into this entrenched group rather than challenging it.
One might reasonably expect that, in the wake of recent scandals and heightened scrutiny, senior female leaders would prioritize meaningful cultural reform and organizational improvement. Unfortunately, this has not materialized; their focus seems predominantly self-oriented. Problematic individuals persist within Citi Equities due to their sheer numbers and lengthy tenures, making severance packages a prohibitive deterrent for the firm.
It is advisable to approach with skepticism any female leaders who publicly champion “women’s empowerment”. Such advocacy often serves primarily to enhance personal reputation rather than drive genuine change.
I don’t know how many more broken souls and professional endeavors are needed before Citi decides to take a proper action to REALLY change their culture.