Story 357

An MD in the former USPB Risk group started quietly reassigning a Director’s workload onto one of his peers.

No explanation was given — none is deemed required. By routing a Director’s responsibilities through another, she could create the appearance that he was supervising and elevating a peer.

A paper trail for a promotion, built on optics.

The whole thing was an absolute farce. The favored Director couldn’t get his peer to do a thing.

The tension was palpable.

When I pulled him aside and asked if he noticed how defensive and alienated his peer had become because of this, his response was the definition of sociopathy:

“It doesn’t matter how people feel. We have to get the job done.”

Tone from the top, loud and clear.

It reframes toxic behavior and a total lack of emotional intelligence as “laser-focused professionalism.”

But that is a rookie mistake. You can care about the people and hit the targets. In fact, that’s the only way to make the results last.

Meanwhile, no one can point to what’s actually more innovative, more efficient, or different in any measurable way. No output, no evidence, no comparison — just a declaration of success.

This is the reality: management manufactures the appearance of collaboration, tells you to step on your colleagues’ necks to build your own promotion case, and then reminds you to fill out your corporate empathy survey by Friday.

This is one example of many others under this particular leader, focused entirely on political stage performance.

When Jane Fraser first pushed for leading with empathy at Citi, skeptics scoffed. They thought empathy was “soft” and wouldn’t get results.

We need to stop letting people mask a lack of leadership capability behind the mandate to “drive results.”

Understanding how people feel gives a leader the data they need to motivate, influence, and actually clear roadblocks. Ignoring it is like driving a car and refusing to look at the dashboard because you’re “focused on the road.”

When the “tone from the top” rewards this behavior, it signals to everyone else that interpersonal collateral damage is acceptable. It’s exhausting to watch, and even more exhausting to work under.

Similar Posts

  • Story 76

    A few years ago, the Head of Wealth at Citi imposed a hire on the Head of the Private Bank. A white male who worked had worked for the Head of Wealth at a prior firm and was now “retired”. The “retirement” was due to inappropriate relationships with someone at a prior firm. Needless to…

  • Story 151

    Jane Fraser has described Citi’s consent order remediation as a punch list — the minimum remaining work to pass inspection. Her words, in public. Internally, the message filtering down through N-2 / N-3 is consistent: the firm is too fragmented to fix fundamentally. Do enough to close the consent order and move on. That’s not…

  • Story 352

    Politicians: Live your life in such a way that millions of people don’t celebrate your death. Executives: Live your life in such a way that you don’t need to hide the fact that you impregnated your wife while she was married to someone else.

  • Story 278

    I cover Citigroup at an affiliate news agency in the UK focused on financial services. The Financial Times published an article today on [REDACTED] that raises two notable issues: questions about the rigor of Citi’s due diligence process and whether the firm should have been aware of prior workplace concerns surrounding his departure from JPMorgan….

  • Story 362

    When corporate mandates meet executive privilege Despite Citi’s company-wide push to end reliance on consultants and contractors, ERM Tech & Data leadership secured a free-pass to keep external spending alive. Instead of investing in internal talent, budget was funneled to Big Four consultants (with a clear bias toward specific national networks) to drive strategy, at…

  • Story 161

    I’ve been at Citi Private Bank for nearly 13 years, and have seen my share of chaos. But since 2021, the dysfunction is unlike anything I’ve ever witnessed. Leadership talks endlessly about “transformation,” but the reality inside is far worse than what’s acknowledged publicly. Citi has a long history of elevating the wrong leaders. A…