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- “Relationship Managers” Handled Collapsed Silvergate and Signature Banks’ Crypto Accounts; Citibank’s Dictator Accounts; and JPMorgan’s Jeffrey Epstein Accounts
“Relationship Managers” Handled Collapsed Silvergate and Signature Banks’ Crypto Accounts; Citibank’s Dictator Accounts; and JPMorgan’s Jeffrey Epstein Accounts
by Pam Martens and Russ Martens Wall Street on Parade
A dangerous malignancy has been growing on the U.S. banking system for at least two dozen years: It’s the job function benignly called the “Relationship Manager.”
In October 2013, Carmen Segarra, a lawyer and former Bank Examiner at the Federal Reserve Bank of New York, filed a federal lawsuit alleging that Relationship Managers there, who were assigned to delicately manage relationships between the New York Fed and the powerful Wall Street banks, had obstructed and interfered with her investigation of Goldman Sachs and tried to bully her into changing her negative findings. When Segarra refused to change her examination, she was fired, according to a federal lawsuit she filed. In 2018, Segarra provided a more detailed accounting of how these corrupted relationships play out in her book, Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street.