Skip navigation

Citi PWM Exodus

or Register to post new content in the forum

238 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jan 13, 2010 3:06 am

Citi is going to drop another pretty big announcement in the near future that has to do with their private wealth platform.  Can’t say anything yet, but remember where you heard it first!

Jan 13, 2010 4:50 pm

U people for real? Who doesn’t know their payout grid? And platform announcement was a long time ago.

Jan 13, 2010 7:38 pm

somehow I think Christo will be the last one at the dance before he realizes the party is over…

That's funny, at least your wife will be keeping me company at that dance.....
Jan 14, 2010 6:21 pm

tick…tick…tick…

Jan 14, 2010 6:39 pm

Mr Big, the announcement about the platform change is totally separate from what has already been announced.  What I'm referring to has not been announced yet, trust me.

Jan 15, 2010 4:30 am

tick…tick…tick…

Jan 15, 2010 2:24 pm

So, do you think Citi has someone stationed if front of the fax machine?

Jan 15, 2010 6:49 pm

some BIG FAs at C are rolling out today. Some have bounced on East coast already… by end of day, C will have lost some key players. A couple of recruiters both said they’re aware of over $2B in AUM attached to today’s FAs in motion.  What’s interesting is that these big FAs are going to wires like Merrill, UBS, WFA, etc.  Think anyone in NY even noticed? 

Jan 15, 2010 7:05 pm

SORRY… I have been duly corrected by a couple insiders Pm’ing me… thanks

So FAR… I and stress so far, I’ve been told that a confirmed $4.6B in AUM has LEFT Citi in NY and in the Midwest TODAY alone. 3 of the biggest players and some other team members left in NY, UBS was the big recipient so far.

I hear ML is killing it in CA and has some big movement happening there, but it’s obviously early in the day.  ML was reported to be writing the LARGEST check anywhere for the $500k+ guys.  


Jan 15, 2010 9:46 pm

A friend of mine at Citi said they lost 3 people from his region today. 2 from long island I think and 1 from brooklyn. 1 did 2 close to 2 mill I think another did around 1 mill and another did around 750k.



I called another friend who is a real big citi guy to confirm from him but havent heard back from him yet

Jan 15, 2010 10:52 pm

Confirmation on the NY guys… 3 at least today. Some left in CA, TX and IL today as well, not sure on numbers there exactly. 

Jan 16, 2010 1:00 am

$2.4MM team of 5-6 in Westchester/Putnam County left last week for WF Advisors....(poor saps)

Jan 16, 2010 2:15 am

Henry? Ted?

Jan 16, 2010 4:53 am

5+ left today in Chicago, moved all of the lead guy’s assets to a new 2009 hired hack from LaSalle/BofA (screwing the guys who have been there for 10 plus years). New hire wasn’t even on a team. Other guys clients are being called by the “team leader” - no one else trusted to call the clients. Chicago had 70 FAs on 12/31/08, now down to 25 and ticking.   Time to arrange another all day downtown meeting with the big cheese from New York to remotivate the last of the crew. Starting to look like Survivor, except the players vote themselves off the sinking island. Terry Dial’s 2009 new hire has clearly had impact! oops Ms. Dial got canned this week! Must have been another "client centric move.

  PS. CPWM FA's are not authorized to use a fax machine, nor their CSA.
Jan 16, 2010 4:58 am

hehehehe…

Jan 16, 2010 9:54 am

What’s next? For the folks that stay , at least for now… Does this thing fold?

Jan 16, 2010 11:43 am

They can all move to Texas and work at the call center cuz that’s where all the accounts will be housed.



Jan 16, 2010 3:57 pm

Haha… Your right…

Jan 19, 2010 3:35 pm
mrclutch:

Citi is going to drop another pretty big announcement in the near future that has to do with their private wealth platform.  Can’t say anything yet, but remember where you heard it first!

Jan 19, 2010 3:38 pm
mrclutch:

Citi is going to drop another pretty big announcement in the near future that has to do with their private wealth platform.  Can’t say anything yet, but remember where you heard it first!

mrclutch, Just wondering when you expect this big announcement???