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Senior women seem to be leaving Citi's functions

Citi might have made big hires to plug holes in its compliance bucket after a $400m fine from regulators back in 2021, but that doesn’t mean its middle office people are safe during recently-announced cuts. The bank has already lost some senior people already this year – and a lot of them have been women.

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Nataliya Grigorova is among the biggest names to leave Citi. An 18-year veteran of the bank across London and Zurich, she was most recently an MD and head of its Basel capital markets review team. She left for HSBC earlier this month to be chief of staff and head of strategic initiatives for its wholesale risk team.

Erin Marrow is another departure. She spent 10 years at Citi in New York as an MD, and was most recently chief compliance officer for the bank’s global compliance testing program. She’s gone to Toronto Dominion in the city to be deputy chief compliance officer and compliance transformation head.

Also leaving Citi is Sybil Kleinmichel. Kleinmichel was the bank’s Chief Information Security Officer for its global markets team in Germany and four other countries, based in Frankfurt. She spent just 2 years at Citi before leaving to join Hays, the recruitment consultant, as a “managing expert” in cyber security. 

It’s not clear if the women above were kicked from Citi or if they left of their own accords. The bank, which recently announced a chunky 20,000-strong round of cuts, has actually been cutting people for a while now, with its restructuring effort (which involves managing layers being cut and a host of committees being disbanded) the main driver. Our bonus & job market expectations report found them the most fearful bankers going into 2024.

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AUTHORZeno Toulon

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