Home Criminal Defense Citi’s S****y Risk Controls Prove Fatal To Marianne Lake’s Ambitions

Citi’s S****y Risk Controls Prove Fatal To Marianne Lake’s Ambitions

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Mike Corbat might not have much cared for his job as CEO of Citigroup, however he was nonetheless supposed to stay round for one more couple of years and provides Marianne Lake a preventing probability of convincing Jamie Dimon to turn out to be Secretary of Commerce or run for mayor or gentle an M-80 behind him and let his heart care for the remainder and permit her to take her rightful place as the primary feminine chief of a significant U.S. financial institution. Unfortunately, Citi’s woeful threat administration infrastructure did what it does, over and over and over again, and reminded regulators that Citi and Corbat hadn’t actually achieved all they promised, sotto voce, to do to repair these techniques, and that possibly a highly public reminder to do so was so as. And since Citigroup replaces its CEOs when its regulators take public notice that they’re less than snuff, Lake’s rendezvous with future took a wrong turn, virtually as if Citi was processing the transaction.

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