First and foremost is something I've said before: Citigroup has never unlocked the value of being one company. Despite a lot of hard work to integrate back-office functions, encourage cross-selling in the front-office, and the like, insiders tell me that it remains a collection of fiefdoms that often work at cross purposes.
Fortunately, times like these are the times to get it right. Deadwood that gets in the way can now be eliminated. Will that happen? Citigroup is full of survivors - much like cockroaches who scatter when the light goes on. I remain hopeful, but only if the real dead wood goes.
I know a number of expats who were posted to Asia basically as a way of moving them out of an important job in the US. Fortunately many of these people are now gone, and the real talent is rising to the top.
I wish my many friends and colleagues at Citigroup well.
And, as much as I hate to say it, I am happy that I am no longer there!
