Reports are they're breaking up the Institutional Clients Group with big implications for IB. This follows the bank essentially getting rid of their FX analysts in June
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Shitibank
REPEAT AFTER ME
FUCK CITI
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Does this have any day-to-day impact for bankers? Looks like the reporting structure to Jane Fraser is impacted but the current heads of IB, markets, etc will remain in place.
https://www.ft.com/content/c8349012-5cbf-4434-9486-9a8f0e22d6b3
ha - sounds like they're not your favorite bank which is fair. agreed looks more like it could be a signal that 'something is being done' at Citi rather than any real change?
No idea but at a 5.00% div yield I'm a buyer. If anyone has any MNPI comment below then pretend like you were just kidding so we can fool the feds if they catch us
No impact on anyone and certainly no big implications for IB... they are just removing extra reporting lines as the ICG head is leaving next year.
IB, trading etc are all important enough to merit their own business lines and report directly to CEO instead of finding someone new for them to roll up to.
This makes me feel better about not getting a return offer
???
Nothing, and that's the problem.
Once Citi used to be mentioned in the same breadth as JPMC today.... Salomon was a storied shop.
But decades of poor leadership has Citi relegated to 3rd spot even in consumer banking.
Spirit of Salomon is long lost.
Nothing happens at Citi and that's the problem.
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