Citi's MD exits include a rising star who hired hundreds of people
As Citi rips out layers of bureaucracy and ends meetings about reports that never needed to be written, some of its managing directors who might have been presumed safe are disappearing.
Sources say that Nina Guinchard, a New York-based managing director and global head of the institutional credit group within the transaction management team, is leaving.
Citi isn't commenting, but insiders at the bank say Guinchard's exit is surprising because she'd been deemed a high performer. She joined Citi from Deutsche Bank as a director in February 2021 and was promoted to managing director at the end of the year. During her brief period at Citi, Guinchard's understood to have hired 'hundreds' of people to her team. Sources say she has a huge work ethic.
Surviving members of Guinchard's team, who are seemingly attempting to fix some of the bank's problematic reporting systems, may now have concerns about their fate. As we noted last month, Citi has hired thousands of people into compliance, controls and technology roles, and there are suggestions that it over-hired.
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