Anand finally taking the bullet for the data issues. Empty suit and will be the next one out the door. Citi is billing it he was stretched too thin. Never impressed me as a senior leader. Highly doubt another US based financial institution would pick him up.
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Let’s see if AS is around after Q4.
He should have been fired. He did an awful job attempting to combine the institutional ultra high net worth business with the retail businesses and that trainwreck is still continuing. He was elevated to COO after not meeting any of his numbers, just read the past few proxy reports where they make excuses about him missing but rationalizing his pay. He then failed in his COO role and the bank was fined well over $100mm and he gets a soft "too much on his plate" excuse. Ridiculous. If he had too much on his plate then it would be his role as a leader to add the appropriate and capable people under him to balance the load.
It is ridiculous.
why is the CEO allowing the COO to be the scapegoat for data issues... it's time for some real accountability at the top, not just convenient blame-shifting.... this is what happens when leadership fails to take responsibility, this pattern of behavior is damaging to the entire organization, if the CEO truly cared about the company's integrity, she wouldn’t allow the COO to take the fall., time for the real issues to be addressed at the top...
Fire the CEO
What about Anands direct reports? They should be gone too! They have done nothing. Fire all lifetimers at Citi
How quickly they fall. He was once Jane's right hand person.
Anand is also a citi lifer. You lose some
Some credibility externally when your fixer is someone who’s been at citi for that long
My guess is this doesn’t really solve a thing other than letting the street know we will put an outsider against this
Just the data piece for now. Article said 800 staff removed from his org.
Saw the “spin” as well. There will be more.
Yeah was wondering how long he would last. He’s got a much wore role
Post re org. I don’t care how you spin it.
COO or not. I’d rather be running a large p&l
He’s not gone though right? Just stripped of the data stuff?