Incarcerated JPMorgan Chase Employee Seriously Got Around, Worked For NASA?

Author:: Bess Levin
Updated:: Jan 14, 2019
Original:: Jul 28, 2009

So, okay. Here's the employment history for Robin Katz, the down on her luck Chase financial adviser/pastry chef who's currently waiting for someone to bail her out of Riker's, where she's been hanging since JPMorgan turned her over to the cops, for the minor transgression of creating an ATM in a client's name (who is still claiming to have no idea what any of this is about), and helping herself to $100,000 or so. Apparently prior gigs include a stint at N.A.S.A. (which overlapped attending Smith College, in Massachusetts, and working for something called TL Advertising, in California). Also, HSBC, for a month, book-ended by Chase.

Robin Katz FINRA [PDF]

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Choice number one: everyone starts earning more money for the bank, following an exhilarating pep rally run by Corbat in the cafeteria involving senior executives shooting Citi swag into the crowd out of tee-shirt guns, cheerleaders, and a Spartacus Workout demo and before/after shots of MC, meant to inspire people and show them what they're capable of if they really put their minds to something. Choice number two: Bank of America-style layoffs. Michael Corbat, new chief executive officer, says he wants to run a more efficient bank. That means rousing or cutting one of Wall Street’s least productive workforces. Citigroup generated about $206,000 of revenue for each employee through the first nine months of the year, down 7.5 percent from the same period in 2011, while rivals including Wells Fargo & Co. posted increases, according to data compiled by Bloomberg. Excluding a one-time writedown of $4.7 billion, Citigroup’s productivity rose less than 1 percent...“It’s likely they will have some sort of headcount- reduction program more in line with Bank of America, which is looking to get rid of about 10 percent of employees,” said Erik Oja, an equities analyst at Standard & Poor’s in New York. “Having the lowest revenue per employee is something they will have to address, and growing the revenues is pretty tough right now with net interest margins falling and loan growth so low.” Pandit probably was distracted from his cost-cutting goal as he grappled with public rebukes while trying to sell unwanted assets, said David Knutson, a credit analyst with Legal & General Investment Management America in Chicago, which owns Citigroup debt. Disposing of Citi Holdings assets remains “the elephant in the room,” he said. “He had a lot of plates in the air, and there were a couple of setbacks,” Knutson said. “Expense cuts are painful, and you’ve got to gore some sacred cows,” Knutson said. “You can’t do that if you don’t have an explicit mandate, if you don’t have focus and you’re hamstrung with legacy issues.” Citigroup Productivity Worst of Big Banks Shows Challenge [Bloomberg] Earlier: Mike Corbat Will Torch The Fat Off Citi Like He Torched The Fat Off His Abs

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In case that was unclear. Also, no more "surprises" like you know what again, please.

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