Several CB displacement today. Sad & disheartening. They were longtime good contributors. Remaining staff will now be overworked and stressed to pickup the extra work.
Posts mentioning hashtag #commercialbanks
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commercial credit got gutted
not a good sign for the economy too.
30+ people were let go.
we fear that more will be let go.
godspeed all
Citi's London office overhaul costs hit $1.5 billion
https://www.reuters.com/business/finance/citis-london-office-overhaul-costs-hit-15-billion-2025-09-14
Bright Ideas
After closing hundreds of branches through merger and project star, the latest bright idea to save the bank is to build hundreds of new branches lol. Analysts (particularly Mike Mayo) promptly p-o-p-o these plans as too little too late, pointing out the plan doesn’t actually solve for the banks primary issues.
Looking in my crystal ball, I can see in ~ 2 years time we will have new leaders whose “bold” idea to save the bank will be to consolidate/close branches.