All about politics and saying yes with a smile
Director (Current Employee) – New York, NY – July 19, 2019
Citi likes to say it embraces change. Roles are defined by the person not the process and thus as people change, Citi redefines roles and role levels to suit individual managers. Jobs internally "posted" are rarely filled by postings. It is all internal networking and favortism. HR is completely complacent in this practice, defers to management, and thus there is a culture of "yes" required to retain or grow ones role.
Management at the C15/C16 level (Director and Managing Director) is neither empowered nor motivated nor rewarded to make hard decisions. Citi suffers from group think. Fairly senior titled managers frequently get lost in small details and often put time and effort toward small silos to champion their opinions and teams though the task they work on is meaningless or misguided and adds no customer, shareholder, or employee value.
There is a huge push to keep moving analyst roles offshore from NY, London, Hong Kong, Singapore, and other major hub cities to save money. With 30%+ annual analyst turnover after 5+ years of offshoring at volume the success at Citi is only measured in terms of $ of cost avoidance and the size of the offshore staff. Effectiveness of an analyst community with high turnover is known to be a joke yet not permitted to be discussed as that globally well known fact clashes with the message of success from the CEO, CFO, and other executive leaders.