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I saw Citi posted record earnings today. Good for them. Anyone, like me, who chooses to work at a bank is a capitalist so no judgment. That said, it’s fair to ask whether the firm might be even more successful if it reinvested just some of those profits into meaningfully improving its culture, rather than spending hundreds of millions of dollars on law firms YoY managing employment claims.
Its annual budget for Paul Weiss alone is rumored to be $100MM. That’s not including the $30MM alleged spent on the rote 2025 investigation into [REDACTED] bullying and gender discrimination situation.
I’m not about to sit through the earnings call, so can someone circle back whether Fraser makes a reference that implies she gives two cents about employees? If she does, it’s hard not to assume her Chief of Staff has been keeping an eye on submissions here and, profits be damned, are aware they are sitting on a potential PR disaster due to the staggering number of miserable, disengaged team members.