![]() 50 people were promoted in global markets, so promotions were roughly equally split between front office professionals in the investment bank.Īs Citi invests in operations and controls, it's promoting heavily in related areas This year it promoted 104, an increase of 49%.įront office promotions in the investment bank were only a third of the totalĬiti promoted 52 people in banking and capital markes this year, up from around 44 last year. So the promotions are not without a cost.Ĭiti is promoting women faster than the rest However, Citi will have hiked new its MDs' salaries to between $400k and $540k, which is the going rate for its senior staff according to the H1B visa database. It also represents a means of retaining staff without necessarily paying them a large bonus. The rise in MD promotions reflects the fact that Citi has had a good year. This year, it promoted 306, an increase of 27%. Like Goldman Sachs, Citi's new managing director list is one of its biggest. If you don't want to comb through each name individually, here are our learnings about the names and the distribution of this year's promotions across Citi's divisions.Ĭiti felt compelled to promote a large class of managing directors this year We've added the 306 names on the memo, plus the acronyms that delineate their divisions, at the bottom of this page. Citi's new managing director (MD) list is out today.
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