He was the head of Services Technology.
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When you see MDs, Ds and even SVPs jumping out of the CitiTitanic to Chase the Money and save themselves from sinking, you know it's long past time to abandon the CitiTitanic Ship !
Post ID: @2txf+1vY7QsBD True and Correct. Do NOT believe any feel good, fake motivational, pony show meetings. Employees must read the writing on the wall and look for the clues. If it acts, quacks and walks like a duck, it's a Fvcken duck!
Example: The new Party City Corp. CEO Barry Litwin (just hired in August 2024) told his employees/Svckers in every single meeting that the future for Party City is so bright everyone needs to wear shades, the company is profitable, everything is so wonderful, BullSh!t, BullSh!t, etc..
Then this week, he announced that Party City Corp. is closing its doors forever, liquidating every asset including but Not limited to real estate, store fixtures, inventory, etc., and here's the best part........NO Employee Severance whatsoever, NO matter how many years the Employees/Svckers worked for Party City and their medical insurance ends immediately!
Every single Employee was literally kicked out the door this week with NO financial support. All of the Party City corporate buildings and stores were padlocked with security personnel in place to prevent anyone from going inside the buildings! The only financial support the Employees/Svckers will get is from Dept. of Labor Unemployment Insurance claims which is peanuts.
Moral of the story: Do NOT believe any feel good, fake motivational, pony show meetings. Employees must read the writing on the wall and look for the clues. If it acts, quacks and walks like a duck, it's a Fvcken duck!
When you see and hear the Citi House of Cards is falling apart like the Titanic's crew saying everything is ok, all the while they're loading up the life boats (just like several MDs leaving, jumping ship to Chase the Money). and just like the Enron leaders telling the tale of “your 401K’s are safe” when it was not and the company expl0ded, do NOT believe the C-Suite!.
We have 30,000 developers. Really??!
@4pjk+1vY7QsBD
Who cares if insurance companies are 5 years behind in tech, if they pay more than what Citi, a multi trillion $ company, is willing to except when it comes to Jane’s pay, then why not go to work for them.
Post ID: @4lfd+1vY7QsBD Not really and maybe Not. Insurance companies are at least 5 years behind banks in technology. There's even more red tape and bureaucracy in Insurance Co's.
Also, it's even more difficult to get promoted. VPs are the equivalent of Banks' Ds or MDs. You can spend decades as a AVP or lower.
Post ID: @4lfd+1vY7QsBD Yabba Dabba Doo. The Flinstones $hittybank Clown Car.
The Citi Stylus "AI" "tool" will be rubbing 2 sticks together to maybe get Fire and get it to "work". LOL!⚙️🤡
MetLife is a good move for him. It's a much more straightforward environment where someone at his level can actually get things done.
Citi now expects to do more (with less) and leverage AI (with stone age systems).
He's the CIO of MetLife now.
I don't doubt MDs are being quietly told their time is up.
However some of them will be looking elsewhere to protect their own reputation.
They longer you've stayed at Citi, without fixing the highly publicized problems, the worse it looks for your reputation.
Are MDs leaving by choice, or have they been quietly tapped on the shoulder and told to start job hunting?
MD leaving should tell you something. MD after MD after MD tells you the same thing over and over. Don’t chase the money and leave to work somewhere else and Bora Bora layoffs are over with.
Afterwards, MD after MD after MD are constantly leaving. The people trying to sell you the story are leaving the ship.
Just like the Enron leaders telling the tale of “your 401K’s are safe” when it was not.
Just like the crew on the Titanic who said everything was ok, all the while loading up the life boats.
Announcement just went out that Nick is leaving Citi. Interesting that I heard it here first. Mahantesh M & Amit R (under Nick now) will jointly assume his duties. He'll be here til January to transition his job over.
@2fet+1vY7QsBD, Mike Whitaker is at Group CIO at Cantor Fitzgerald and BGC Group now.
Flexcube is a TTS system? Owned by Nick then.
We'll be moved onto Loan IQ instead, any decade now.
Revlon debacle was on Stuart Riley’s watch. Just saying he hit away with keeping his job and the resigning 3 years later. Nice
Post ID: @atg+1vY7QsBD Former CIO Mike Whitaker went to HSBC, another low tier/caliber bottom of the barrel financial institution.
90% of the time CitiTrash land in another $HITHOLE and are unable to trade up to high tier/caliber banks like GS, JPMC, BofA etc..
The same with co-CIO Stuart Riley.
Birds of a feather flock together.
If the Revlon/Consent Order issue still isn't fixed nearly 5 years later, I can see why he was in the spotlight.
He is leaving, I overheard someone in Pune is replacing him. He got offered a CIO position somewhere else. Didn’t hear where
Citi tech is often challenged with dealing with the cheaper hardware or software and then goaled on making it perform like much more expensive products. Ya know because that makes sense.
“I need for you to outline for me your 5 step plan on having it perform like enterprise solution. If you say its impossible, then show me your benchmark testing that says it can’t. Oh, you do have benchmark testing, ok, this is no good because I need at least a month’s worth of metrics. Impossible to give me a months worth of metric because you’ve just been given this one week ago. Well, you’re goaled on results so figure it out or you missed your goal. “
Believe it or not, and I truly don’t care either way, this very scenario actually played out. I witnessed it between a colleague of mine and a manager.
“I’ve also seen a product being ordered and delivered at a certain price. What was received was not what paid for, rather than making the vendor give us what we paid for, “well, this is what we have and we can’t afford to miss the deadline, so lets work with what we’ve got. If we miss the deadline, we’ll be out of compliance and that means paperwork”
Rinse, repeat. Since everyone in management is ok with it, what can you do or say. This happens across all tech specialties on all levels. How do you dare speak up about any of this and most certainly risks retaliation like we’ve all seen so many times before.
Citi IT will never get "up to par" with the current environment. You need 1 line of code changed in something and they say it's a 20,000 hr project and you're not allowed to question it. Nothing gets accomplished as a result.
Post ID: @mut+1vY7QsBD
Probably Not. The upper echelon wants the Minions-Svckers to stay in Citi just long enough for them until They themselves leave Citi and Chase the Money.
"Citi IT teams are a joke. I have never experienced so many problems with desktop / laptop / software in my life. I would fire all of you guys..."
There's a separate area in charge of these things. Yes, they are a joke.
The tech that someone like Nick oversees is mainly Citi platforms and applications. They're a joke as well, but for different reasons. Mainly underinvestment, poor strategy, outsourcing to vendors who actually profit from bad delivery, offshoring issues etc.
Will we ever get to the point where we don’t hear the upper echelon say “Don’t leave, don’t chase the money”, then later they themselves leave to go elsewhere shortly thereafter.
Citi IT teams are a joke. I have never experienced so many problems with desktop / laptop / software in my life. I would fire all of you guys...