Friday, September 29, 2006
@4:02 PM
Citigroup wants to stem its talent outflowThis article caught my eyes because of the recent conversation I had with the JPMorgan representative in Fullerton Hotel. Just a short extract from the article first;
There are so many former Citibankers to be found in financial institutions in Asia that their onetime employer Citigroup says it faces a problem of "exporting talents". Robert Morse, Citigroup CEO, Asia Pacific corporate and investment banking (CIB), says: "In the past, Citigroup exported alot of talent to the industry. We want to make sure we stop doing that."Now, back to the conversation I had with the JPMorgan (JP) representative 3 days ago.
Me:
If the department is expanding, why is it that the program is only recruiting 7 fresh graduates a year globally (2 from Singapore)?JP:
We don't want to become a factory line like Citibank. Look at their high turnover rate of MA.Me:
But it can be due to the fact that Citibank MA are high in demand, thus being headhunted aggressively?JP: (Smiling)
I beg to differ.So you see. It's almost becoming quite a obvious trend in the industry. Citibank is facing high staff turnover rate. And guess what? The HSBC MA whom I spoke to last night hinted that HSBC is more "human" than the other banks (I bet he was implying Citibank). Haha ~ I have heard of many complaints about how Citibank works you till the last cents paid for you. But again, this bank is my ideal destination simply due to one reason - Working with the best people. I rather be working my ass off, together with people whom I have confidence in, than to head for home at 6pm sharp
without an ease of mind about my team.
by Str|fe
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