Jane is clearly out of her depth. She had\has no vision. She was counting on the woke mentality to turn a profit and it did not work. As one poster put it:
DEI (diversity, equality and inclusion) is great but its not a huge selling point. The populous won’t flock to Citi based on just that alone. Constantly touting it as a win year after year, does not a constant solid revenue make. Have we learned that you need to provide something else to the public. You have to provide a unique or better service or product than your competitors.
The following scenario does not work on a small scale, so why would it work on a larger one. Scenario: you have a store and business is bad, so you put a sign up in your store front window that says “We are ESG friendly”. From that point on people just come in and give you money for no other reason than you are ESG friendly. This does not exist, it doesn’t work. Keep the diversity etc…and all that, but you have to have something else to offer the public. Has that been learned?
Other banks incorporate DEI as well but its not their ONLY selling point. I truly believe that Jane thought that people would just come running to Citi for that reason alone. I think she thought the social justice warriors of the world would rally to Citi as customers because of such.