Does anybody actually believe Shobhit found another role outside of citi and decided to leave on his own? Dude has only been at Citi for 8 months and was supposed to revolutionize AI at the bank with those amazing IBM insights (as if IBM knows anything about AI).
47 replies (most recent on top)
The announcement of his exit was made on the same day that Citi hosted an AI summit. He prob got an offer he could not refuse from Google or some other tech company. He is too innovative for Citi culture and prob fed up with the Citi bureaucracy too.
@10s you Need more Randomly capitalized Words to Prove your point because Capitals mean that you must be Correct and not illiterate. Given the racist bent, you’re probably emulating a favourite politician.
@z4 don’t bother - there’s just a bunch of racist Asians on this page insulting and criticizing other Asians. Tale as old as Citi
@10s nobody forced Citi to expand into India. They don’t even have retail operations there cause they su-k.
There's an inordinate number of Des!s and Citi's favourite demographic starting immediately below the ELT: MDs, Directors all the way down to AVP/Associate/Analyst.
Compare Citi's demographic structure And its number of Des!s to its envied Competitors Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America, Barclays (NOT peers because Citi is more like State Street Bank, Standard Chartered, PNC, HSBC, etc.).
Birds of a feather flock together. Their cultural mindset is that employees should martyr themselves for their managers & the company, work long hours without additional compensation/salary, take on heavier workload, don't complain, be available 24/7, accept as gospel & absolute truth anything & everything their managers tell them, always be subservient and obedient, their kind is superior to ethnic groups including caucasians in intellect and abilities, etc. In addition to hubris, arrogance, and narcissism.
The fact that thousands of employees including posters on this site concur and have the same observations and sentiments means that such behaviours are NOT exceptions to the Norm, isolated or anomalies. These (cultural) behaviours are THEIR Norm.
Anyone who doesn't see this is willfully blind.
@z4 everything is blamed on Indians, every other race does the same sh-t. Seems like they haven’t worked with anyone else. Blame the brown foks while the CEO rips them apart making another 40 million for her cronies while we blame each other and hate on each other. Capitalism strategy 101
@yx if a MD let go in 8 months it's Recruitment failure not the guy's fault
@yx Wells Fargo is a sh-t show already of Jpmc rejects with Citi's layoff culture added in... Just twice as bad. Charlie Scharf is hated on the Wells layoff forum just as much as Jane on the Citi one, Robin on the BNY one, Brian on the BofA one and Gunjan on the US Bank one
@w9 how is it bank of India, when Lofty's boss was white (Tim Ryan) as well as his slip (Jane Fraser)... Are you saying two white people fired a third white person to replace him with an Indian? I'm sorry, I'm not seeing how an Indian in this case is to be blamed.
And Citi is hardly bank of India. Couldn't operate there and sold it's retail business to another Indian bank much like it happened with Banamex and Mexico. Jane and her EMT are majority non-Indian anyway...
@ys it’s pretty clear the guy over promised and under delivered and he got rightfully canned. JF and Trim Ryan are aggressively pushing AI, and if he was even doing a somewhat competent job as the head of AI, he wouldn’t have got the 🥾 8 months in. He can now go sell his smoke and mirrors to some other schmuck. I hear Wells Fargo is gladly hiring the undesirables from Citi.
My theory on Varshney former Head of AI:
Assuming his official termination date was April 15, this means he was informed 1 to 2 months prior when his term date was going to be.
And so he started creating his own website sometime between Jan 2026 to March 2026 to make it look like he started his own business just for optics so that it doesn't look like he got Fired or RIFd.
But as other posters stated he was just hired in Sept 2025 with a humongous compensation package around US$10 Million annually plus bonus incentive plus stock options. It's suspicious and makes absolutely NO sense to leave after only 8 months to lose most of the salary plus the bonus AND Before the stock options vest.
Maybe he discovered Skeletons and secrets Citi doesNOT want be made public let alone the Regulators, OCC, FRB etc. be made aware of which would result in more monetary fines and even possibly criminal violations and sanctions.
And so, maybe Citi paid him off to keep his mouth shut and just leave. So maybe Varshney did get to keep his $10+ million package plus bonus plus stock options.
This would be Bribery and coercion if true, if not also RICO. Citi would be digging a deep grave for itself because the Regulators will quickly put the nails on Citi's coffin.
@w9 he will be a good fit in the Royal Bank of Israel
@w6 lofty got the boot for sure. He didn't quite fit it in at royal bank of india
@w6 don't think lofty went by his own,then it would have reflected as there would have been already a line up for joining somewhere
@w5 Somje of the high profile names may have genuinely left on their own...you know..rats, sinking ship etc. Like Lofthouse, the CIO. Important lesson here is what do those people know that we don't know...yet.
@w1 lots of suspicious retirement announcements too. When just weeks ago those same folks were doing tech road shows all over the globe and posting cringy a-s posts on linkedin about how exciting Citi is and how AI is transforming the bank.
As usual that's company corporate double speak (As in the book, "1984") for he got Fired.
Left for personal reasons, is just like the often used excuses/phrases Left for outside opportunities, Left to spend more time with his/her family, attend to personal matters, etc..
Classic corporate PR BullSh!t. I've heard too many companies use the above Bullsh!t Lies/excuses too many times.
The "outside opportunity" phrase is hysterical!!! What type of outside opportunites??? Collecting Unemployment Insurance benefits and job searching ???
Citi claims he left for 'personal reasons' so maybe he wasn't fired after all?
https://www.efinancialcareers.com/news/citi-s-global-head-of-ai-joined-in-september-and-has-just-gone-again
@td please do the needful. Execs brought over with $10mm packages don’t just up and leave 8 months after joining. They at least wait it out the year or whatever to get the stock options. Definitely fired for not reverting
@OP He's a member of the Caste so my guess is that it wasn't RIF
Is it all indians are being spared? I am an Indian was working under another indian telugu manager, there were many underperformer (ofcourse all of them were telugu) in the team and I got laid off being one of the High performer.
If they love Citi so much especially Citi's temporary 2 good earnings quarters, why are they posting on a site called www.thelayoff.com ??
The very name itself means the posters will Not have favorable or complimentary comments. The comments will be and are filled with hate, disgust, disdain, contempt and insults.
The same is true for other companies on the site. The only posters posting fulsome, @ss-kissing compliments are from HR, MDs/Ds, and Citi's favorite demographic.
What is everyone talking about?? I'm proud to work for RBI Royal Bank of I, aka Citibank.
Just like thousands of posters on this site, everyday I'm two-facedly and duplicitously friendly towards RBI's favourite employee demographic, as well as approach and consider with humour their superiority complex, hubris and narcissism which contributes to RBI's toxic corporate culture and inevitable non-existence.
Shame on anyone who dares to not love RBI-Citibank!
Goldman Sachs, BofA, JPM and other banks should emulate RBI-Citibank just for fun for at least 1 year to see how an indigent Banana Republic Smoke & Mirrors Clown Show with Spaghetti-Maze Stone Age "Technology" "operates".
@hf lol yes none of those functions understands intro to corporate finance. And you’ve sailed on so far that you comment all over your former firm’s gossip page? Methinks the lady doth protest too much
@gv yeah, reminds when we stood up stp securities trading for for wealth clients and sales/redemptions were failing as the securities were in a different account to the one set up in t24. Don’t need ai to work out the left hand doesn’t know what the right hand is doing.
You can’t put a jet engine on a horse and cart and call it a space shuttle…. Unless you talk like Mary poppins and shake when interviewed at Davos…
@hf It’s hard to reconcile the level of attention you’re giving this thread with the claim that you moved on a long time ago.
Nerves were struck. LMFAO!
Everyone knows just because Citi had 2 good quarters those are temporary bandages from all the layoffs. The Rot still exists underneath. It's like putting a bandage on a terminal disease!
Anyone with a modicum of work experience on the business side (Not Tech, NOT second line support like Risk, IA) such as Finance, Equity Research, Securities Trading, Private Equity, Investment Banking, Asset Management etc. knows layoffs give a temporary bump increase in stock price and ROE.
It's fleeting at best, but NOT sustainable. You can Not cut your way to solvency, profitability and tech stability by simply laying off, offering lower salaries to the desperate job seekers, and lower employee medical & retirement benefits.
And Tech is still a bandage job with corners being cut in order to meet Regulatory deadlines. It's patch work at best with incompetent employees and consultants pretending they know what they're doing or what next steps are.
But enjoy the CitiTitanic. I rode or rather sailed into the sunset long ago and left! LMFAO!
It's going to implode like Lehman and Bear Stearns with Svckers-Employees who remained on the Titanic because they bought Exec "Management" narrative that Citi is "going to be alright", is on a path to improvement......until their pensions went up in smoke because the creditors need to be paid first.
Anyone who didn't jump ship got Fvcked majorly.
@ah you might have upset the leeches! The same 1 or 2 people posting are blood su-king leeches who have grown fat and now have nothing better to do than attack Nawani and Ryan. Kudos to Nawani for fighting them off !!
@ah
Birds of a feather flock together and deify each other.
Varshney and Nawani are both in the Tech and AI space and of course oversold castles in the sky that they could Not and can Not deliver on months and years later.
@ah is expanding and explicating on the fact that Citi can only attract and retain specific incompetent paesanos compared to its envied competitors. Anyone who doesn't see this connection is myopic and one dimensional. Typical Citi employee.
Citi has been in the Sh!thole it's in for decades. Yet Citi is so myopic and caught in a vicious cycle of incompetent employees, Consent Orders, financial and technological problems, ad infinitum.
Everyone or most people who are posting on this forum have been Fvcked Over by Citi one way or another, and thus have Schadenfreude and are rooting for, hoping for CitiTroy's continuing problems and ultimate demise.
If Citi truly wants to improve (It does NOT. Citi wants the world to change FOR Citi, NOT the other way around.) then Citi must emulate and mirror what successful GS, JPMC, BofA, Morgan Stanley do.
But instead Citi Fired under the guise of Layoffs, Svckers Citi lured out of its competitors because they proposed changes and recommendations that Citi-Drvg User resisted. Change is difficult, Drvg Users/Addicts Lie to themselves and others about their addiction and resist change.
@cr he has his own website, and he is timing it well
@ev
I don’t think you understand @eb’s point which is AN and TR have nothing to do with this thread which was intended to bring discussion regarding Shobhit’s departure. Not stir up Tech drama. I also agree that AN always had a decent reputation across Risk.
Unfortunately comments like yours and others take away from the balanced discussions and threads that are posted on this website. You sound bitter and post out of emotion. Perhaps your firing blindsided you, implying you lack insight until it’s too late… like King Lear
@eb I completely agree. AN has nothing to do with this thread about Shobhit who was part of COO (not Tech). Reading through this thread it’s obvious that the posts are from the same 1 or 2 leeches spreading hate who have unresolved grievances with Citi, with Tech/EDO. Move on indeed. Life is too short.
@dn @dg you have no idea what you are talking about. Nawani has NEVER been referenced on this cesspool of a website until he joined Tech. Which btw he may not have had a choice as Data was a mess and needed strong leadership. Nawani joining Tech was a loss for Risk. Get a job and a life and stop spreading hate. If you were RIF’d by Citi, move on ! I feel sorry for you. This thread and the majority of Citi threads are obviously bitterness from people who were let go, and it shows more resentment than insight.
Birds of a feather flock together ! Willful blindness and negligence !
@dn
wtf are you talking about
TR hasn't even been at Citi for 2 years yet
This being said I can't disagree with you about AN
These are the reasons why the employees in ERM and Risk Dept overall (there are 12 Risk groups) had a party and were exuberant when Nawani accepted the transfer to Tech.
The better outcome would've been for him to just be outright Fired. But everyone knows he has G0d Fathers and coteries protecting him like a M@fia. And so they had to just settle for Nawani getting transferred to another Sh!tH0le department.
Those 2 Incompetent Feckless Dysfunctional Clowns AN and TR must know where all the De@d Bodies, Skeletons and secrets are hidden because they should've been Fired years ago. Citi won't Fire them, @least not yet.
@dg what are these two to do with the thread? I see hate for the Indians nonstop. As an Indian working in tech I was amazed that Nawani even chose to join this function. Whoever believes he was not doing well is clueless..Perhaps had no choice. Keep hating Indians but also keep hiring them.
@c1 Nawani and Tim Ryan were both partners at PwC (Ryan was chair and Nawani was a regular partner). I have a big 4 background myself and partners are very talented people - at schmoozing clients for repeat business and very smooth talkers. Partners are not known for their deep technical knowledge or hands on experience...and it's not expected of them eikther. There are technical MD's and senior managers/directors for that type of work. Partners are best at wining and dining their client and key contacts there, keep the sheeple errr I mean the managers/senior consultants doing the actual grunt work motivated by ensuring they drink the kool aid.....now get how Nawani and Ryan get to keep their jobs despite knowing sh1t?
another Indian hate narrative. Don’t call them to your country or hire them. Every other race does the same thing but it’s overlooked. Enough of this and look at the top 1% and see what they are doing to rip us all off and apart. Everyone is trying to make a living and trying to do their best for their loved ones.
I heard he will be building out his own consulting business.....and not asked to leave.