Story 59 is familiar. Male MD in Citi’s London wealth office who left in 2024. I spent a ton of time and effort in 2021/2022 hiring women off the back of Fraser’s very public DEI push, only to be told by new management in late 2023 to wipe them all out. Pretty brutal whiplash. I don’t miss it.
As someone still working for the said bank under scrutiny, I can identify with so many stories mentioned here and whilst it’s comforting knowing I’m not alone in my struggles, it’s also disheartening to see how deeply entrenched and common these issues are. I’ve experienced misogyny, been passed on for promotions, told I should have…
Wall Street End Game Was anyone else disturbed, when Ruemmler stepped down as CLO, by Goldman Sachs’ former CEO Blankfein’s comment that in years past, the firm wouldn’t have gone after bad actor employees for fear it might make it harder to retain talent? Usually you hear the opposite argument. Employees don’t publicly denounce malfeasance…
There is a specific kind of institutional dysfunction that promotes people because of their failures. The former Head of Risk Product Management — one whose work sat at the heart of consent order remediation — never defined clear roles for his team. Rather than providing vision and direction, he asked the people beneath him to…
Story 364 – this makes me wish even more that I had been in the room when Jamie Dimon told Marianne Lake she was no longer part of JP Morgan’s succession plan. Everyone knows how ambitious she is. The rumours that she turned down a generous retention package rather than remain in her role, keep…
To Story 251 and all the others: I am so incredibly sorry that you’re going through this. There are few things more stressful than feeling like a “tracked animal” for months, knowing the axe is coming but being forced to wait for it. What you are describing is part of Citi’s M.O. leading up to…
On Staying in the Room — A Response to Story 242 and a Continuation of 246. I responded in Story 246. And now let me be clear about what I am doing. Very early in my career I was almost always the only woman in a pack of men. I was put off by women…