Thank you Story 318 for this post. Building on this. This isn’t just an awkward shoutout over a ranking nobody at Citi can actually find — it’s the public capstone on a relationship that’s been quietly forming since Fraser reached out to congratulate Trump on his election win in 2024. Eric Trump set up a…
Donald Trump’s decision to publicly praise Citigroup and Jane Fraser for an M&A ranking Citi does not actually hold is a remarkable moment in itself. Multiple financial news outlets noted that the ranking cited by Trump did not align with the major Wall Street league tables, leaving bankers and analysts scrambling to figure out what…
No one has discussed Citi’s accountability framework, the HR tool that maps disciplinary actions to categories of offense, ranging from warning to termination. In principle: consistent consequences regardless of rank. In practice: a tool that is not being applied to the managers complained about, who remain in their roles. The point is this: a framework or a…
Prompted by Story 315. A pattern, once seen, cannot be unseen. ERM Tech & Data at Citi seems to operate a pattern that repeats with enough consistency to constitute policy. There was a male Director. Caucasian. Several decades of experience under his belt. Not part of the in-group. For a full year, his manager —…
A Forensic Autopsy of a Career Assassination: The Promise. The Reorg. The Demotion. There is a particular kind of institutional betrayal that is engineered to look like circumstance. In ERM Tech & Data at Citi, where in-group loyalty overrides merit and the rule of law, a role was promised. Then she raised concerns — about…
When the Coverup Becomes the Crime: A Cautionary Tale from KPMG Last week, the CEO of KPMG Australia resigned without notice. While he wasn’t personally implicated in wrongdoing, how he handled it when others were, precipitated his demise. KPMG partners were found to have inappropriately shared confidential client information internally. A whistleblower raised the alarm….
The Director Who Doesn’t Know What He Doesn’t Know There is a particular kind of incompetence that announces itself through enthusiasm directed at the wrong audience. A Director came to share his excitement. He had been given exposure — access to senior leadership. Risk scenarios for the CCAR process were being presented for approval. Senior…
Dear editor, please publish an edit to the last paragraph. She knows her leadership decisions have been a mess from day one. And that her willful blindness and arrogance has needlessly and negatively impacted the careers of thousands of good people whose family depends on them. Last sentence stands. 🥳
Story 310: Thank you for your incisive analysis of Fortune’s seeming pay-to-play article on Jane Fraser. I agree with every word and would just add that, like most of today’s leaders – male and female – she expects to have it both ways. 1. In the recent article by Barron’s, which I assume Citi “paid…
This week, Fortune published a favorable profile of Jane Fraser and Citi’s turnaround. It is worth reading — for what it chooses not to examine. For investors, Fortune provides the “What” — the plan, the metrics, the narrative arc. What it does not provide is the “How” — the friction, the trust deficit, the litigation…