Story 54

30 year wealth management professional. The best boss I ever had – at U.S. Trust – was a woman who was marginalized over and over because she wasn’t part of the boys’ club. But by far the worst culture on Wall Street is Citi. Spent three years stunned by the chaos & power thirsty MDs….

112: your story resonated deeply. What you’ve documented at Wells Fargo isn’t isolated—I witnessed the same repeating pattern at Citi in Tech & Data. A C15 role came open. There was a highly qualified female candidate with a proven track record. Instead, an Indian male had been pre-appointed. When the hiring MD was confronted privately,…

I am based in Citigroup’s New York office. While I cannot speak to other business units, the Equities floor regrettably lives up to its longstanding and notorious reputation for dysfunction. A small cadre of MDs and their favored allies effectively dominate the culture, fostering a cliquish environment. Although the Equities division now includes a notable…

As a manager I saw the termination for more than 10 women in wealth business director level or above and no men were considered for the restructuring. This was not result based. When they send the JOB Restructuring package they include age but not gender as most women are being laid off.

I agree with Story 256. Someone unfamiliar with Citi’s culture might think the incidents are too outrageous to be believed. And yet. They are true and there is worse. I had never thought I’d live to experience anything like it. Setting aside the gendered misconduct for a moment, what does that culture look like on…

Barron’s ran a big profile on Jane Fraser and Citi’s turnaround this week. It’s a good read — if you’re an investor. For those of us who have watched this story from the inside, we know better. The article notes that a wave of executives has departed. That a law firm was hired to investigate…