Citigroup (C.US) Accelerates Promotion Pace to Counter Private Equity Poaching

Zhito Finance APP has learned that, according to reports, Citigroup (C.US) is shortening the time required for investment banking analysts to be promoted to associate in order to attract and retain top talent in a highly competitive job market. Currently, private equity firms are actively poaching junior bankers from Wall Street. According to an internal memo, this adjustment is effective immediately, and Citigroup has also simultaneously eliminated fixed-term contracts for relevant employees in North America.