Bankers always expect surprises during bonus season, but for Citigroup bankers the email they received at the end of last week was something of a shock. Indeed it is likely to prove a major headache for any dissatisfied staff member looking to jump ship - as well as for the headhunters looking to facilitate the move.
The new policy revolves around notice periods and the bank's attempt to make them more rigid. The move is in response to what Citi informs staff is an attempt to minimise disruptions to both business units and clients. The bank has declared that a managing director must now give 75 working days notice of their 'intention' to...
