It seems almost unfathomable that there was time — and not that long ago — that Citigroup was the model financial services firm. It might be yet again — but only if its CEO Jane Fraser can pull off the restructuring of the century. Full disclosure: I’m not a believer in the Citi comeback story, … Read more
Bank executives witnessed an increase in their compensation in 2023, while ordinary employees faced yet another year of modest bonuses. This disparity was notably conspicuous at London-based lender Standard Chartered, where CEO Bill Winters experienced a 22 per cent increase in his pay package, as reported by Bloomberg. The bank’s 2023 earnings report disclosed that … Read more
Wells Fargo employees at an Albuquerque, NM, branch voted to join a union on Wednesday, opening up a new frontier in the labor campaign against corporate America. Wells Fargo employees voted 5 to 3 in favor of joining the Communications Workers of America’s Wells Fargo Workers United, the union said. The vote stands “as a testament to workers in the financial services … Read more
