Citi requires analysts to disclose job offers

Citigroup Inc. aims to create a transparent hiring culture by asking analysts about job offers.

Citi reinforces hiring policies for investment-banking analysts

Citigroup Inc. is implementing a new policy requiring investment-banking analysts to disclose any previously accepted job offers from other firms. This move aligns with recent actions by banks to mitigate aggressive recruitment practices from private equity firms. First-year analysts will sign an attestation form to promote fairness in the recruitment process, as detailed in a memo circulated among managers seen by Bloomberg News. While the form is primarily a one-time requirement, the bank may elect to have analysts complete it annually in the future.

The decision by Citigroup reflects a broader trend in the finance industry to manage talent retention amid fierce competition from private equity firms. By mandating disclosures of competing job offers, Citi aims to deter analysts from leveraging multiple offers to negotiate better terms. This could signal a shift towards heightened oversight and transparency in hiring practices, which might influence analysts' career decisions in future recruitment strategies.

Highlights

As the competition for talent intensifies, Citi's approach may set a new standard in the industry.