You don’t make up for that loss overnight. I remember when it was considered a bad idea to throw money into that region but Citi “saw an opportunity” and it turned out to be a 1.2 billion $ mistake.
Gotta chop the heads to make up for the loss. Here comes the blood bath. Good luck everyone.
Citi didn't sell Russia - it spun up a completely independent Citi Russia Bank.
Just another entry in the list of bad decisions costing an enormous amount that needs to be paid in blood with employee layoffs. Jane still gets her raise though. Nothing to see here, move along.
Old news, current news, future news….its still a 1.2 billion dollar bad decision that’s paid for in part with layoffs.
Silly you it had already been reserved for. Old news.
Start with Fraser first. $25mm bonus plus another $100mm options…greedy