Citi always spends more money and investment on processes from consultants rather than technology. Citi has to learn that you need to do more than say “we are a tech company”. You have to actually buy the tech and train your people on the tech and sometimes actually pay the newly skilled people to remain with the company and\or hire people in at the market value for that skill.
You don’t draw people in or retain your talent by just saying “you’re an awesome company” , you have to actually BE an awesome company. Even if you are an awesome company, you can’t pay the bills with company culture.
I went to the bank and said “I’d like to pay my mortgage with company culture instead of money”. You know what, they didn’t go for it, they refused. So free pizza Thursday’s and every other donut Tues. is not working. No one cares about wearing matching company shirts for a group photo or how many emails you send out trying to sell “how great Citi is please don’t go.” just to watch you run even more people off.
As of now, Citi is doing NOTHING to retain talent, and this is by design. They want you to leave. They are aware that it’ll cause issues and they will cross that bridge when they get there. Right now, they need to build up cash reserves to try and make an impression with the board so that Jane does not look so bad.