Citco reviews

3.4

60% would recommend to a friend

(3,568 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 3,568 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
Nov 1, 2018
Recommend
CEO approval
Business Outlook

Pros

Being able to come and go as you please. Having an exceptional amount of free time to do personal things. The unlimited sick days are awesome so you can call out as often as you want. Lastly, the lack of motivation will help you discover what you really want to do with your life

Cons

The company decides to relocate people then has layoffs within 18 months. Puts the person in a position of panic. The company has NO strategy or vision in the future especially for Charlotte as they continue to lay-off people and send all the work to the India and the Philippines. The lack of transparency has employees leaving in droves and those remaining are there until they get laid off. The company is in humane in their practices and will be their eventual downfall. Lastly, the VPs know little to nothing and always refer to the past instead of being innovative for the future. I don’t understand how they will get jobs as all they do is sit around and play on the Internet. I STRONGLY advise anyone considering a position here to work At ANYWHERE else as you will be siloed into a position to learn nothing

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Citco Response
7y
Thank you for your feedback. It’s disappointing to read this review but I appreciate you taking the time to provide feedback so we can understand more about your time with us. I recognize that any time there is a shift in work employees may become concerned. It is unfortunate that you feel Citco does not invest in our employees as we want our colleagues to achieve their career ambitions and therefore invest heavily in training, learning and development at all levels. We are always looking at how we can improve so thank you for taking the time to leave your feedback.
1.0
Aug 14, 2018

Nepotism

Recommend
CEO approval
Business Outlook

Pros

Free beer and wine! But i rather buy my own.

Cons

Turn over is high. If you make a year, you'll be a sr. citizen. Upper Management in the Charlotte office ... one word "nepotism." The office is almost shut down, all the work has been going overseas. Promotions and raises are only for nepotism. They fired so many people while i was there. Even HR had a lot of turn over.

1.0
Jul 11, 2018

Supervisor

Recommend
CEO approval
Business Outlook

Pros

Free drinks and beer. TVs in the kitchen to watch soccer, Some friendly people

Cons

Overpaid management who are passive aggressive. Will act like they are there to help when the big bosses are around but will act like you are bothering them when asking for help or guidance. The problem with Citco's structure is that so many people are getting way overpaid for the amount of their skill set and/or contribution to their department. This creates a low morale for employees and at the same time help bring down what was once a good company. This is one of the reasons why Citco has been sending jobs offshore and shutting down offices. Management will lie, sleep, surf the internet (almost the entire day) and still act as if they are busy. It is easy to see this as you can go to any department and experience it first hand. HR is just an extension of management and are really not their to help. Anyone that is left working at Citco will throw anyone under the bus to save their high paying comfortable job. Citco is one of the most un-professional company I have ever worked for. Citco pretends to be a fund but in reality, they are not and people working at Citco has so much downtime that they are not motivated to work harder as that is the whole culture of the company. Anyone looking for work, please stay away from Citco. It is now a better job market. Don't waste your time and career working at Citco.

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Citco Response
7y
Thank you for your feedback. It is unfortunate that your opinion as to the organization has changed so drastically. Citco has a lot to offer its employees. The Company has made an effort to listen to staff and respond to the positive feedback and to their concerns. In addition, we are consistently working to be more competitive with our salaries and benefits. The Company has made some decisions that has impacted employees, but it is not the only organization that has done so. Every organization evolves within its life cycle and has to make changes to adapt to its customers as well as the economy. Please allow me to address some of your concerns: 1. The plan to off shore work to other areas is not unique to Citco. Many of our competitors have successfully rolled out similar strategic initiatives. With changes in our economy within the last few years, it makes business sense. In addition, our goal is to provide 24 hour support to our clients. The shift of some work to other locations has allowed us to do that. 2. With regard to raising issues to HR. I understand that you may feel that actions may be slow moving. But, what you may not be aware of, are all the moving parts and the additional resources needed to research and ensure that all voices are heard. We also work closely with a third party to give added comfort that an objective solution is put forth. I am sure you agree that the perceived delay is worth it to ensure a fair resolution to all issues. 3. If there is behavior that is unprofessional or unbecoming to anyone in the workplace, regardless of their role, you should share these with local HR or senior management. In a location that houses the most Senior Managers in the region and two local HR professionals, I would encourage you to speak with someone you feel comfortable with that will maintain the level of confidentiality and tact with which it deserves to be handled. Again, thank you for taking the time to share your comments. I hope you give us the opportunity to work with you on some of the points you shared. EVP - HR Ops US and Caribbean
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