If someone has to leave, should have been Eleanour Drew. When was the laat time she produced anything of note that justifies her overall team size? Lofthouse was trying to get something going by cleaning house. Drew is simply promoting people with in seat promotions year in and year out.
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@wz
I was responding to a comment about how certain people were made tech fellows with no technical contribution at Citi to back it up.
@xd Yes, don't disagree that every place have the problems as Citi does. Perhaps the big banks (aka bulge brackets) suffer more from it, but Citi has to be a ring leader in the total lack of ethics, nepotism and bootlicking.
Am now at one of those elite boutique banks...since I wasn't a banker but in data, it was a little easier to convert to a boutique - think of a Jefferies, an Evercore, A lazarus, A PJT...that sort of a place
@x9 where are you now my friend as I have seen the same everywhere so far? I don't disagree with you but this place wasn't like this earlier..
@x4 Google is your friend
so apprently he was a partner at PwC - makes sense since he joined as MD
https://theorg.com/org/citigroup/org-chart/ashutosh-nawani
More - https://www.businessinsider.com/citi-anand-selva-transformation-consent-orders-fines-2024-10
https://www.efinancialcareers.com/news/citi-s-apparent-demotion-of-anand-selvakesari-is-not-what-it-seems-but-still-complicated
Even More - https://www.efinancialcareers.com/news/citi-s-apparent-demotion-of-anand-selvakesari-is-not-what-it-seems-but-still-complicated
Need more links? Citi has a nepotism problem. It isn't the only one by any means. But it seems to be a huge offender. And I'm not even talking about just Nawani and Ryan which, anyway, is part nepotism and part coincidence (in my opinion). I know of far more blatant cases of nepotism where MD's and D's are in a job, though not even qualified for it, because of the fact that they have buddies who are also MD's in the same chain of command.
As a firm, Citi has zero ethics..again, it's in very august company of many, many firms in being completely devoid of even a semblance of ethicsm, but surely Citi is one of the leaders in this pack of wolves. One can argue that a business isn't in it for ethics and morality but to make money for its owners (or shareholders if a public firm), but as the old saying goes - even thieves have a code of honor amonst themselves. Citi has none, beyond what they are legally obligated for. Nada. Zilch.
Glad I left on my terms. It took time...and a lot of applications. But I got outta there
@k5 how do you know? Ash is not there in LinkedIn
@we you saying JL's view for the tenure as head of tech wasn't something impressive?
@k5 saddest thing is that japan’s father passed away a few months earlier - but you know how jane preaches empathy and does not actually practice it
@ef
Indeed hard to applaud the assignment of tech fellowships. Made a bit of a mockery of the title.
If he was fired, why not do it before paying his bonus in January?
Hence, Citindiabank.
This is NOT the case at GS, JPMC, Barclays, Morgan Stanley, Bank of America......you know......the Real Banks that do NOT have Citindiabank's financial, technological and operational problems! LOL!
@er didn’t know that Ash was at PwC. This firm has single handedly bled Citi with thousand cuts, eroded all the good things. Another can be McKenzie whose biggest contribution was JF and then transformation
@et Tim buying time
@d2 he wasn’t cleaning anything - he was shot so they could bring in some splashy whatever from Google and put it out in a press release so that “AI” is in headlines at the same time as “layoffs”.
@er track record of promoting the smoke and mirrors experts
@ef won't be the only case. Tim Ryan had a big hand in appointing Ash Nawani, his former colleague and accolyte from PwC. That's just one example. Citi is a den of nepotism. Suddenly why punish someone who just follows Citi's well established practice of wildly promoting clueless and talentless nepotistic people?
@d2 he was just saving his cronies, old pals. How can anyone anoint P!pp@ as distinguished engineer or N!k as markets tech. No vision only trash excuses to justify status quo and avoid/delay adoption of new technologies
Regardless, he was probably very well taken care of.
He was cleaning house? There might have been questions about the layer below him. Not sure he had a good grip of matters at that level at all.
JL got the boot 🥾 he was the odd one out in the sea of bad leadership at C
@ab But why? Vision not aligning anymore?
Did he really left?
Trim Ryan pushed out JL, with JF blessing