Citigroup mandates junior analysts to disclose any future job offers to reduce talent poaching, similar to practices at Goldman Sachs and JPMorgan Chase. The disclosure policy, intended to create a transparent work environment, poses ethical concerns and potential for legislative pushback according to experts. The industry-wide crackdown responds to frustration over talent loss to private-equity firms that aggressively recruit junior analysts even before they start their roles. This effort reflects a broader trend in investment banking to retain employees as competition intensifies.
Citigroup is joining a trend of requiring junior analysts to disclose future job offers in an effort to combat talent poaching and enhance employee retention.
The request for disclosures by Citigroup mirrors similar actions by Goldman Sachs and JPMorgan Chase, reflecting increased competitiveness in the industry.
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