CITCO Fund Services

  www.citco.com
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CITCO Fund Services Reviews

Updated Jul 21, 2014

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All Employees Current Employees Only

2.7 152 reviews

57% Approve of the CEO

CITCO Fund Services President William Keunen

William Keunen

(58 ratings)

39% of employees recommend this company to a friend

Review Highlights

Pros
  • Free beer, nice people, informal organizational structure(in 12 reviews)

  • Work life balance is present at all levels(in 6 reviews)


Cons
  • long hours and management needs to listen more(in 28 reviews)

  • Salary/bonus, work life balance doesn't exist(in 7 reviews)

152 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    The ship is going down fast- second round of 2012 Layoffs coming soon!

    Slave (Former Employee) Jersey City, NJ

    ProsIf you are lucky to work in a group where there is upward mobility- great; there is room for career growth... but make sure you are a go-getter, and make your own destiny. (and get in good with Upper Mgmt). I have seen many groups that carry their weaker staff, without really giving them a chance to become stronger. Hours better 2009- 2012 then they were 2005-2008; sick/ vacation day format very flexible.

    ConsToo much manual work! Most of the Aexeo data is input manually into the Excel files; many of the Back Office groups approach the work totally different than one another, so tough to smoothly transition into another group. Jersey City office is full of cronyism- if you are buddy- buddy with the right Manager you get fast- tracked for promotions, or the juicy ad hoc projects. Not enough mentoring- some staff are thrown under the bus quite regularly by senior mgrs. Top- down communication is terrible; information is definitely not free- flowing; better than it used to be, but still on a need-to-know basis. Many times town hall meetings were held AFTER rumors about bonuses/ raises (or lack of them) were rampant. There are going to be layoffs in the JC office before Halloween 2012 (second round this year)- be forewarned. This ship is going down fast...

    Advice to Senior ManagementTake a closer look at your BO VPs, many are terrible.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Decent Compensation, Good Training, Experience opens door to other company

    Financial Reporting Accountant (Former Employee) Malvern, PA

    ProsCitco Malvern office prepares Financial and Regulatory Report. Due to the nature of the work, they are only busy from Jan-April. Thus, they brought lots of temps (lousy pay but experience open door to other company) in Sept - Dec, trained them up to help them prepared the Financial Report. From Jan-April, if you got the right team, expect to clock in as many hours as possible which means $$$ for temps. Full time offer really depends on your luck, your manager and your team.

    ConsIf you got a senior who's willing to train and vouch for you instead of throwing you under the bus, you'll have better chance of getting the full time offer. If you don't feel the right connection with your manager and your senior, start looking for job in feb-march instead of waiting for their decision. Learn as much as you can to prepare you for your next interview for another job. Don't box yourself for Fund accounting job, it's a lousy paying position compared to other entry level staff accounting job. Use the experience to leverage yourself to other financial industry. Don't short sell yourself.

    Advice to Senior ManagementGive a better salary and promotion opportunity to your staff accountant. You won't keep your senior when you don't match the salary you give for 'new' Senior.

    Yes, I would recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Good starting point

    Middle Office Associate (Current Employee) San Francisco, CA

    Pros-Exposure to institutional clients
    -Operational experience that other firms value
    -Typical 9-5 workday
    -Job security

    Cons-Awkward culture
    -Lack of a sense of 'team' with colleagues
    -Unclear career advancement within Citco
    -Not an entrepreneurial atmosphere

    No, I would not recommend this company to a friend

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    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Uninformed.

    Don't Even Know - I Did Training and Was Some Sortof A Secretary (Current Employee) Fort Lauderdale, FL

    ProsGreat for time off in personal life. Great for bonus. Pay was adequate.

    ConsNot informed of the "whole picture" as the project I was involved with. This was really sad in that I was a part of a team (so I thought), BUT it was a team of all men. I was called in the initial meeting that I attended by my boss as "the scribe" to take notes (since I was brought on as as a tech writer). This is a VERY male dominent company and a "good ol' boy atmosphere' is excruciatingly saddening. I was NEVER invited to lunch with the 'boys' even though my impact on the 'training' of the entire company relied upon me for their project. NEVER. Even though 1/2 the 'boys' invited to lunch were CONSULTANTS and not even employees such as myself. I was later laid off. What a shame; they could have made a lot of cash from my qualities!

    Advice to Senior ManagementGet with the program in the USA. You are in America as far as IT and please treat woman as equal.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    2 people found this helpful  

    You dont need to know anything about the industry to work here, but they wont go out of their way to teach you about it.

    Operations Associate (Current Employee) Rye Brook, NY

    ProsDecent first job outta college, benefits are good while getting on your own two feet. Most entry level positions are pretty easy, if you can use a computer / excel you can do this job.

    ConsCulture claims to be laidback, a good place for people tired of strict corporate standards. What they mean is most employees are 2nd rate, even 3rd rate, they either don't work hard or work hard but are barely capable of doing their job. As such often newer hires who pick things up quickly are leaned on, which is very stressful when they learn that older employees are of very little help. Additionally there is a high turnover rate b/c they don't expect to hold onto anyone who's good at their job for very long. Raises and bonuses come slowly. You can't be fired for being bad at your job, so if someone on your team is awful and causes more work for others nothing is done about it. The leadership is incredibly uninspiring.

    Advice to Senior ManagementTry to entice your more capable employees with better incentives, pay being a good start. Less turnover would occur if you tried to keep your top workers and showed them more upfront that you appreciate their work over their less valuable coworkers. The company appears to reward loyalty over capability, doesn't try to buy loyalty, and is populated largely by people who need Citco more than Citco really needs them.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    3 people found this helpful  

    CFS lacks professionalism and treats employees with very little respect for the work they do.

    Middle Office Associate (Former Employee) Jersey City, NJ

    ProsHR has put together a decent compensation package. The work hours, for the most part, are reasonable.

    ConsEmployees are generally treated disrespectfully by the senior management. There is a level of dishonesty between CFS management and its workers. Professionalism is lacking in the work environment and management and HR seem either unable to or unconcerned in addressing some very serious problems.

    Advice to Senior ManagementCFS management needs to reconsider how it views its employees. Honest and open communication with employees is crucial.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    2 people found this helpful  

    A place to start off, but not a place to stay

    Anonymous Employee (Current Employee) Jersey City, NJ

    ProsCitco is known as the best in the business. If you are new to hedge fund admin, this is a good starting place.

    ConsUnless you are a manager or higher, your opinions do not matter, and even then, they still may not matter. You are constantly kept in the dark. It's not the atmosphere where questions are welcomed.

    Advice to Senior ManagementYour employees are your best asset, you should respect us as such. The more you keep us as arms length, the more you will lose some very talented individuals.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Started as a temp and received a paycut once I start permanent because of the benefits package.

    Processor (Current Employee) Malvern, PA

    ProsFlexible schedule in the summer, phils game every year, plenty of morale boosting activities (free food, games, etc.)

    ConsLong, long hours during the busy season (Dec. - Apr.), the terrible compensation, and the lack of opportunity to grow career wise in the company (no real structure).

    Advice to Senior ManagementRecognize the achievements and progress that your employees make and reward them accordingly. The company is making so much money, but none of it makes it to the lower tiers and loyalty to the company is lost because of it.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    3 people found this helpful  

    A decent company, but doesn't always recognize its employees talents

    Anonymous Employee (Former Employee) San Francisco, CA

    ProsHad a relaxed working atmosphere during the non busy seasons and was given flexibility in your schedule. Mostly friendly people.

    ConsDoes not train its employees very well. From day one, it was pretty much learn as you go and there was absolutely no guidance from managers as to how to develop your career at Citco.

    Advice to Senior ManagementShould develop a proper training program in order to maximize efficiency of their employees. Could also do better in supporting and guiding their employees in a career path within Citco.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    good company

    Anonymous Employee (Current Employee) New York, NY

    Prosgood company, good location, good benefits

    ConsLong hours, long hours, long hours

    Advice to Senior Managementhie more people

    Yes, I would recommend this company to a friend

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