The Thursday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

Citigroup Snags JPMorgan Vet as New Accounting Chief

Citigroup has appointed Nicole Giles as its new Chief Accounting Officer, effective February 21, 2025. Giles brings nearly 30 years of experience from JPMorgan Chase, where she most recently served as Chief Financial Officer for the Commercial and Investment Banking unit. She replaces interim Chief Accounting Officer Robert Walsh and has also assumed the role of Controller.

In her new position, Giles will receive an annual base salary of $500,000, along with approximately $13.7 million in deferred equity and cash awards, set to vest through January 2029.

This strategic hire underscores Citigroup's commitment to strengthening its financial leadership team.

Source: Investing.com

💎 What’s poppin in accounting

It’s Official Big Four Won’t Budge on Hybrid Work

The Big Four, Deloitte, KPMG, EY, and PwC have made it clear, flexible work is here to stay. Employees can split time between home, offices, and client sites, with KPMG reporting 81% of staff feel more productive with flexibility.

The firms say hybrid work helps attract top talent while still keeping face-to-face collaboration. Meanwhile, companies like Amazon and JPMorgan are going the opposite way with strict return to office mandates.

Source: Outsource Accelerator

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 📊 Weekly Trend Chart

Home Sellers Pull Listings as Buyers Vanish

It’s getting rough out there, homeowners are pulling listings left and right because buyers just aren’t biting. In December alone, nearly 73,000 homes were taken off the market, a 64% jump from last year. Why? High mortgage rates and sky-high prices have buyers sitting on the sidelines.

Sellers aren’t dropping prices either, most are hanging on, waiting for better market conditions. So if you’re house hunting, don’t expect deals to pop up anytime soon.

#😂

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