Story 65

Another bible study lady. We are all in our 70s and talked about how professional women in our day didn’t support each other enough. Good to see less competing and more locking arms. Sending strength and support. We see you!

I am a retired EVP at Wells Fargo. In my role, I provided regular updates to Carrie Tolstedt because my team managed a product the community bank sold. It was widely understood that she was up to something nefarious, but no one acted because of the power she held, and because John Stumpf either enabled…

Dear Story 335, I, too, am a regular reader. It seems likely, from the breadth of stories, that Citi’s independent risk functions may be compromised. Similar concerns have been raised in the past about other institutions. For example, regulators found that a lack of independence of control functions contributed to the issues at Wells Fargo…

Within certain circles of Wall Street—and demonstrably observable at institutions like Citigroup—the metrics for leadership and promotion have become dangerously divorced from actual business execution and merit. Instead of fostering a culture of innovation, rigorous strategy, and technical excellence, the current environment often rewards a specific brand of passive corporate compliance. The prevailing culture appears…

Prompted by Story 282. A footnote on Citi’s new CFO. When Jane Fraser folded US Personal Banking (USPB) into the Wealth division—handing [REDACTED] a massively expanded empire—it left one high-ranking executive without a chair when the music stopped: the former head of USPB. In a move that looked more like a reorganization “rescue” than a…

To story 307, I went through the exact same in another group, we are not liars or crazy. With all the proof in the world, HR will never ever investigate anything. In my case a lawyer got involved and I managed to leave on my own, but everything else is the same playbook. In my…