Citco reviews

3.4

59% would recommend to a friend

(3,580 total reviews)

Christopher Smeets

66% approve of CEO

60% positive business outlook

Citco has an employee rating of 3.4 out of 5 stars, based on 3,580 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Citco employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

4K reviews
1.0
Jul 1, 2017
Recommend
CEO approval
Business Outlook

Pros

-Decent infrastructure. -Smooth interview process -Upscale annual parties. -Supports for immigration process. -Unlimited supply of coffee, pop, beer. -In job tools are just below industry standards but useful. -Overtime varies from team to team(depends on clients/managers) -Meals, transport for all and 1.5 times pay for analyst and senior analyst during over time. -Decent bonus packages for supervisors and above roles. -Facilities are available encouraging for certifications, scope to provide advise on process improvements and standards and these are recognized. -On an average 3years for promotion from analyst to senior. -Huge work force. (400 + employees at Halifax office) -15 days of vacation, 18 from 2 years of service.

Cons

-For freshers, training process is vague. (Expect to learn on job with less help from seniors) as they are very busy. -Work like robots for ever. (Need to be extremely talented to make time for process advancements) -Loss of prime working hours on many daily wasteful processes. ( none in higher management are men enough to make changes in SLA or dumb enough to make an understanding of repetitive daily corrective job due to internal offices, support teams or clients) -Hours and resources wasted on developing Manila recon team. 1. Manila failed (outcome of knowledge gap, decision making ability) 2. Halifax failed to make a complete transition. -Halifax teams are overloaded with 1.incomplete product from Manila 2. As a part of big plan, Halifax office getting more work 3. Repetitive jobs due to internal corrections -As middle management is facing pressure from the top due to unacceptable over time and reduced quality of work, Managers to please make frequent reshuffling of teams, roles, work stations bring a lot of confusion for analysts. -Attrition levels are always high, but management is ok with it. Possible reason being costs are on check as seniors give way for lower income freshers. -Greedy higher management takes more clients without Analysing the capacity or availability of tech teams to stream line work. But easily take blame for it. -With best of my knowledge around 100 employees quit from Jan Including technical supervisors managers and seniors -All of the above resulting in motivating employees to get promoted and be part of high management who has the power. Visible political dramas at each levels to achieve this.

1.0
Jan 11, 2017
Recommend
CEO approval
Business Outlook

Pros

Free beer in attempt to wash away the regret of applying here in the first place. Good chairs with good lumbar support so your body doesn't break during 12-16 hour days.

Cons

Horrible work/life balance (expect 12-16 hour days once you're done training). Small-minded management. No room for advancement. No training. Understaffed. Expect to eat lunch at your desk daily. Little to no management support. Minimal pay. Pathetic professional development/support.

avatar
Citco Response
9y
Dear Colleague - normally Citco provides a robust agenda of "in-class" programs of technical and soft skill training in an office of your size. However your office has been short a training partner for a period of time. A training resource will be coming to your office in February - so staff should look for a promotional email that will be sent early that month outlining the training offerings. As always we encourage staff to take the time to sign up and attend. In regards to more job specific training - our model is for new hires to be trained by their teams. If there is a need for more or refresher training - it's important to let your Account or Sr. Account Manager know when training has not been sufficient. Rest assured, we take your feedback seriously and have shared it with Training Management.
2.0
Nov 22, 2016
Recommend
CEO approval
Business Outlook

Pros

Good opportunity to gain experience in the industry

Cons

For Manager level pay is less than acceptable when overtime is considered. Middle Office department is poorly managed (appeared at my level that senior management- SVPs-were very disorganized and we're not really capable or had not had proper prior experience in managing this type of work). Also as noted many times on other reviews here promotions (specifically in my experience with MGR and VP level) are based on doing more / extra work and an individuals technical capability not actual ability to actually lead people, motivate people and be financial professionals in management roles. It is also very hard to develop staff and motivate staff when it is very evident the office is downsizing. Especially when there is lack of leadership and very unclear communication from SVPs. Again it feels that they are a bit out of their league and in over their head. Again at the MGR /VP level very junior, green people being promoted causing lack of leadership. I understand whomever is on this site as a responder on behalf of Citco will likely respond with some sort of canned justification for what I have said here but I think it is pretty evident to everyone that the Halifax office is a sinking ship. I was there for three years.... left in the spring and was proud of the work I did building my team and had very little turnover- since I left many of my team members have quit and they have been through three Managers over a 6 month period.

avatar
Citco Response
9y
Dear Former Employee: Appreciate you starting on a positive note to highlight the level of industry experience staff achieve from the Citco work experience. We think the broad scope of financial instruments, global clients and opportunity to do front to back accounting is a rich one for financial professionals interested in the hedge fund space. I believe that our managers - like you - also take pride in their teams and work hard to create a positive and developmental atmosphere. It has always been Citco’s practice to promote from within whenever possible. We understand the importance of soft skills for managers and always take those abilities into account when making promotion decisions. Also of great importance in those decisions is the technical expertise of our managers which we believe add to our culture and benefit our clients. We do our best to strike the right balance as we build our leadership and managerial capabilities. I rely on these managers and my HR team to help me swiftly and fairly address any employee issue or concerning matter that arises in this office. In terms of employee population, the Halifax office has never been larger or more diverse so it’s confusing to see some of your misconceptions about downsizing and prospects. We see this office growing in scope in Back Office, Connectivity, Integrations, etc. so I am happy to dispel that rumor or myth.
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