Last week, FIFA suspended a one-match ban on the US’s top scorer after President Trump personally called the FIFA president to ask for a “review.” FIFA subsequently granted an appeal. That’s the whole disease in miniature. Not “we disagreed with the call, so we’re contesting it through the process.” Instead: work the relationship, apply pressure…
I met on a few occasions with the Senior MD leading remediation at Citi and her overseeing senior MD-level committee. During one of our first interactions, the MD was genuinely ecstatic that I had simply followed up on a request. Not impressed. Ecstatic. That reaction told me more about the transformation than any status deck…
Word is getting out that Citi’s HR department is firing more and more employees for cause rather than doing a layoff – this way they don’t have to pay severance and it’s a legal way for them to keep (er, steal) someone’s unvested stock options. It’s about greed. I’ve heard of four women in two…
Citi: 18 years out of the ICU and still “repositioning” Bloomberg ran a piece this week on how Citi’s CEO has earned the President’s trust — dinner under Windsor Castle’s ceiling with the King, back at the White House for the Saudi Crown Prince, on the trip to Beijing to meet Xi. Insiders quoted saying…
I didn’t write story 343 but I am going to guess USCC stands for “U.S. Consumer Cards,” which is a division of Citi.
I was recruited by an MD in USCC Risk for a role I was told would come with 5 direct reports — a management seat, in line with the director-track conversation we’d had very explicitly. I didn’t interview with her in the final round. When I noted that at the time, I was told it…
This website is not easy to search but if you take five mins to randomly click on old stories, you will be amazed at what you find. The headlines are about discrimination, retaliation, careers derailed, and institutions that abused their power, of course. But they are about something bigger and more profound: They are about…
Dear Story 340, do not be discouraged or dismayed. What you are noting is a textbook corporate counter-offensive to a perceived threat: the impact of truth-telling thanks to the Wall Street Discriminates platform. Here’s what I would like to point out: First, on the question of Fraser’s relationship with Trump: let’s be precise about what’s…
Bloomberg published a lovely profile of Jane Fraser today, crediting her “serious political savvy” for Citi’s recent turnaround. What struck me isn’t what the story said. What struck me is what it didn’t. The piece praises Fraser’s ability to navigate Trump’s ego but never acknowledges that, just a few years ago, Citi was among corporate…
Abdication by Appointment There is a particular kind of leadership failure that manifests dressed as delegation. At Citi, a Group Head in ERM Tech & Data who does not want to manage — who finds the work of leading too uncomfortable, too exposed — has options. One of them is to place someone between himself…