Citco reviews

3.4

59% would recommend to a friend

(3,583 total reviews)

Christopher Smeets

67% approve of CEO

60% positive business outlook

Citco has an employee rating of 3.4 out of 5 stars, based on 3,583 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
4.0
Apr 19, 2017

Trade Processor

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Good workplace culture and not too stressful

Cons

Bad turn over rate and a lot of over time hours.

avatar
Citco Response
9y
Dear Former Colleague - thanks for your 4 star rating and feedback.
1.0
Apr 15, 2017

Avoid at all costs

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Overtime pay, free beer and drinks in pantry, semi new offices, decent salary, really nothing else that is a pro.

Cons

Management is terrible. No clear path for upward promotion and very little to learn at Citco in FSR. You are another warm body in a seat churning out as much work as possible - you are essentially a glorified administrative assistant in FSR where you look at spreadsheets and process changes until your eyes begin to glaze over. Very poor culture stemming from management being very far removed from plebeian low level workers. Also awkward dynamic of hiring usually poor performing temps to hire and also former Big 4 employees at the same time. No camaraderie whatsoever. Extremely high turnover that management does absolutely nothing about - it's sad when a small company such as Citco has higher turnover than a big 4. Also because of the high turnover I am pretty sure they give offers to 98% of the people that show up to interview. Do not let the allure of "summer Fridays" and free beer fool you.....truly not worth it.

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Citco Response
9y
Dear Anonymous It is unfortunate that you weren’t able to remain with the organization for a period of a year or more. If so, you would have seen that management does review the efforts of all staff and rewards its strong performers with a promotion. These are processed twice per year. We have a high retention rate within our FSR staff and what may have been perceived as turnover could be a result of our terminating a temporary staff contract. Our office does not have many resignations but we do have some not unlike any company. Our turnover rate is below market expectations. We are sorry to hear that your experience with the organization was not a positive one. We attempt to acclimate our new hires in a way that minimizes their feeling overwhelmed as we know the process is complex and at times tedious. Some individuals may be inclined to take ownership of the role and excel doing so, while others appreciate our patience in training and developing them to meet our quality standards. We also acknowledge that some of the responsibilities held by staff within FSR may not be initially challenging, but the role that our temps fulfill are necessary for the continued success of our organization. We have experienced great success in transitioning individuals from temp roles to full time employment and certain of those individuals have been promoted and are vital to our organization today. We appreciate your feedback and will take note of your comments related to team dynamics. The last and first quarter of a calendar year are quite demanding due to client mandates, however we attempt to offer various outlets for staff and their teams to socialize and have interaction outside of their daily job responsibilities. We continually look to improve and create new opportunities for staff and teams to engage and grow professionally. All the best in your future career endeavors.
1.0
Apr 13, 2017
Recommend
CEO approval
Business Outlook

Pros

Decent pay Good work/ life balance for a client services firm Nice office Free beer Some people are nice but

Cons

Dysfunctional HR department Terrible team structure with temps to hire Some managers are not fit to lead and have no concept of leadership

avatar
Citco Response
9y
Dear Former Colleague: Thank you for your feedback. We appreciate the pros listed and agree we have a good group of people we work with and make every effort to remain competitive with the market. While we also respect your right to critique areas where we might improve, we find certain of the comments to be in conflict with the positive views that you provided. Please note that HR and management are responsible for the positive statements that you made of the organization. It is unfortunate that you felt the need to express some negative sentiment around the HR function and certain management. I would have liked the opportunity to have known of your concerns while a member of our team, so that we could engage in a dialogue and attempt to find a solution to the concerns you have identified. Although you may feel some of our managers are not fit to lead, we do have strong leaders that would have been very willing to address your concerns. Our business has experienced great success with hiring temporary staff for over 8 years. Of course, there are some challenges; yet our client service teams require additional staffing during our busy season and this model has continued to evolve and proved effective over a long period of time. We have been fortunate to have been able to identify certain temporary staff for permanent roles. In my mind, this is yet another positive result of our structure. Conversely, After some training if someone has been identified as not grasping the expectations of the role their contract is terminated. The organization strongly supports internal growth and development and we have promoted many individuals to a management role. We will continue in our efforts to support our managers and provide them with the training they need to continue to succeed. Thank you for taking the time to provide us with your feedback.
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