Story 274
Dear Story 273,
You make excellent points about the churn in Citi’s Enterprise Data office. The dysfunction there runs long and deep. The firm was sued by a senior hire brought in from JPMorgan in 2021 to run governance for the program—I knew her, and she was both capable and effective.
According to her lawsuit, she was fired by COO [REDACTED] after refusing to lie to regulators about the program’s status. She was then replaced by someone with far less relevant experience, but with close ties to [REDACTED]. Worth noting that [REDACTED] staggering incompetence is the reason why Wealth was driven into a ditch before [REDACTED] arrived, and the person [REDACTED] replaced [REDACTED] with was also a factor in why Wealth failed.
So they promoted two men who had visibly failed and were accused of lying to regulators into more senior roles, which tells you everything you need to know about the company’s ethics (or lack thereof).
And, oh, Citi settled this lawsuit – what does that tell you?
https://www.fintechcompliancechronicles.com/p/the-occ-gets-dragged-into-a-wrongful