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

The article discusses Citigroup's implementation of a policy requiring junior investment bankers to disclose any future job offers, a move aimed at curbing talent poaching by private-equity firms. This policy aligns Citigroup with similar measures taken by other investment banks like Goldman Sachs and JPMorgan Chase, which have also introduced loyalty oaths to retain talent. Experts express concerns that such employment disclosures may be ethically questionable and could provoke legislative backlash, particularly in New York, where there is growing scrutiny of restrictive employment practices. The trend reflects a broader industry challenge in retaining young talent amid changing priorities, with some experts suggesting that these measures may ultimately harm employee morale and loyalty. [Extracted from the article]