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Fortune

Nino Paoli

‘Draconian, unethical,’ and ‘soul-killing’: Citi takes leaf out of Goldman’s loyalty oath playbook

Citi Citigroup Fortune Goldman Sachs Kathy Hochul

Chief executive officer of Citigroup Jane Fraser. (Credit: John Lamparski—Getty Images)

Citigroup is the latest investment bank to crack down on talent poaching, taking a similar approach to Goldman Sachs by requiring junior bankers to disclose any future-dated offers they have taken. The disclosures aim to dissuade analysts from taking buy-side offers. But experts tell Fortune these employment disclosures are ethically dubious and have potential for legislative pushback.

Citigroup is hopping on the loyalty oath trend, asking its newest class of junior investment bankers to disclose whether they have accepted future job offers from another firm.

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