Citigroup Chief Executive Officer Jane Fraser, who oversees one of the world's biggest investment banks, is under pressure to improve controls after multiple probes revealed what regulators have said are substantial problems.
https://m-economictimes-com.cdn.ampproject.org/c/s/m.economictimes.com/news/international/business/citigroup-struggled-to-monitor-uk-traders-reaping-3-1-billion-fca/amp_articleshow/93683693.cms
That in itself is a problem. The fact that this is so prevalent with Citi that its “the norm”. Trading ethics, yeah, right. Risk controls, where are they?
We’ve been under consent orders for some time, how is this newsworthy?
We should double down on focusing more on our ESG public image, that’ll fix it. Our oversight and regulatory problems will be over. We should increase our weekly ESG update emails to twice a week to start.
No, I have absolutely no idea what it takes to run a trillion $ bank but then again, I’m not being paid 22 million per year to know either.
LOL-her days are numbered
It’s a little hard to claim to be a leader in wealth management in light of all the fines.
No wonder why overall rewards such as raises or bonuses are sparse.